I had a project in which I needed a pink headband. Instead of going out and buying one I decided to use this glitter purple headband I knew I would never use (and it came in a multi-pack).
Start with some ribbons and cover the ends.
Than start wrapping your way down. Dabs of glue every so often in the inside to keep it stable.
When done, glue off the end in the inside so it can't been seen.
Vola, a new pink headband. Of course this can be done with nicer ribbons, and in any colour you like.