Basically you start with a bunch of coordinating paper. I used a small stack of 6x6 scrapbook paper. It was already a coordinated and double sided.
Then you roll them all into cones.I had 24 pieces of paper, so I had 24 cones. More paper = fuller wreath. It would be best if all the cones were the same, but I didn't have time or energy for that today!
I found a small picture frame in a matching color and put a piece of scrapbook paper with an M inside it. Then I hot glued the cones to a small picture frame. It was a little difficult getting them to fit right; this is where having them all the same would help.
I did the four "corners" first and then filled in the rest.
I tied a pretty ribbon to the actual hanger on the back of the picture and hot glued another piece of paper over al the mess on the back. You wouldn't have to do this if you aren't going to see the back, but our door has windows.
Even with my lack of attention to detail I think it turned out pretty cute. If you had some time to put in and make all the paper cones the same size it would probably be awesome!