**update…I always forget about this option but a friend reminded me today that you can iron your piece of fabric onto a piece of freezer paper (freezer paper stenciling) to stabilize it!!
If you want to add a price or description to the tag, write or print the information onto an address label or other adhesive backed paper and stick to the back of the tag.
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Linking to some of these sites:
So You Think You’re Crafty