This finishes at 4" x 5 1/2" - I made it a bit narrow to accommodate the bulky tassel.
You have 2 places for sentiments - under the cap is a small square and you can also write on the money pocket. I just went with a stamped "Congratulations!" because I didn't have anything graduate related.
Here is the template - I cut it from black cardstock. Each of the folds work best if you crease it really crisply with a bone folder. I cut the white inside panels 1/8" smaller than the actual card.
I originally made this just a card but Mom wanted the pocket for money so I simply cut a strip of cardstock, scored & folded 1/2" tabs on the bottom & sides then die-cut the top for a pretty finish.
I glued it to the inside panel and waaa-laaaa - a money pocket!
Next we need to add a tassel. The schools colors for this particular graduate are blue & white - easy peasy...just take some blue & white bakers twine, wrap it around 4 fingers, take a shorter length and wrap it around the top and tie a knot. To make it more tassel like unravel each strand of the twine....
Affix it to the "cap" using a brad near the center of the square.
After you have attached the tassel, use the white square panel to cover and hide the brad.
Tuck in a little cash and you're all set to go!