Here's what you need:
-scissors and sharp craft knife
I used this super cool holographic origami paper I picked up in Thailand but you can use anything you have on hand.
1) Cut your paper into 2" strips.
2) If you're using short paper like I am, run some glue along the short edge of your cut pieces and connect together to make one long piece 12-18" long.
3) Fringe the long edge of your paper by cutting in about 1.5" every 1/4" or so. If you're lucky enough to have those cool Martha Stewart fringing scissors then this would be a great time to pull them out~
4) Run your glue runner along the long uncut side of your paper on the wrong side.
5) And just start winding your paper around the end of your skewer.
6) Almost done...once your paper is secure use your scissors to bend the paper out like you do on ribbons on gifts.
The only thing left to do now is to fill up your glass, drop your stick in, and toast in the New Year in crafty style!
Thanks for a fun and awesome 2012 everyone! Here's to an even better 2013!
Happy New Year!