I recently bought a book on bookbinding.* It was a valuable resource, I changed a few of the instructions to suit my needs. This instructable presents a a method of bookbinding using ribbon and thread to hold a number of small booklets (signatures) together.
*Real Life Journals by Gwen Diehn
Step 1: Gather Materials
Ribbon - 1/2 inch
Thin hemp cord or thread
Paper - for pages and concertina
Step 2: Making the Signatures
Then fold each sheet of paper in half, hamburger style*. Stack anywhere from 1 to 8 sheets together, depending on the thickness of the paper. Repeat until all sheets are used.
*so the folded paper has the dimensions of the finished pages