Huh. This would be cool to make. I think you could make it just with hot glue, though, and skip the bake time of polymer clay. Maybe squirt the glue around a couple toothpicks or somethign else small-hole-sized but wouldn’t stick to the hot glue once it’s dried; that’d give you the holes for the ribbon. I’ve never tried painting hot glue, though, so I’m not sure. Also, before painting you’d have to file off any of the edges that the cooled glue might have. Or maybe I’m the only one that chafes and welts easily from plastics and such.