You can find everything you need from your local craft store, and chances are you already have scissory, glue gun, and glue. And I found this awesome wooden star on a stick for about $2 and the yarn for about $5 (you'll have TONS left over)
Basically I just wrapped around each point of the star and glued along the way. I tried to make things an non-perfect as possible. But you can just wind around in perfect stripes just as easily. Then for the center I wrapped it around flat in a circular motion. It seemed easiest at the time and it actually was. It was a lot easier than the points. Then, we used some extra yard to wrap the stick around the top of our tree and I think it turned out fantastic!