Sorry this is so simplistic and has such terrible accompanying photos, I will edit it later.
Step 1: What you need:
~ Twelve floppy disk labels, or sticky tape (wide)
~ Hot Glue (Not strictly necessary if you like the look of it with tape. If I had used labels I wouldn't have used it except for attaching the string.).
Step 2: Stick the floppies.
Step 3: Preparing the Disk
Take the cotton off of the disk surface and then keep it for nesting material as well as the plastic disk in the middle for another project.