It could be done as a table centrepiece or just as a deco. Its actually made from a polystyrene cone and then you cut paper strips out of PP and then use a hot glue gun or pin them on, layering them slightly on one side. I chose the pin option...OUCHY fingers let me tell you

I've also seen it done with ribbons, which gives it a bit of a different look. I've used the middle sized cone, but you can use a bigger one if you want it for a centrepiece.