A lot of my favorite crafting tools are from We R Memory Keepers. Now they are releasing a new Lucky 8 Punch this spring. This punch tool lets you create those popular (and pricey) die cut papers without a die cutting machine. You simply punch each corner, flip the paper over and punch each corner again and you end up with one of 6 designs. Watch this:
I can already see scrapbook layouts with these designs but more than that, these will be great to cut down for mini books and journals and such.
Here's a better view of your options-