1 Piece of 8.5 by 11 inch paper
Step 2: Length Folding
Take your sheet of paper and fold it in half along its length.
Step 3: Long Folding; Flatten The Overhang
At this point you will be making what I call the "long" fold. Pull the paper down so that the wings sweep will be the maximum it can be. Repeat on the other side. At the center line, fold the overhanging paper down along it. Repeat on the other side until it is cleanly tucked on each side.
Pull the front tip down to the bottom of what was the overhang. Then fold the airplane in half. From 1 inch above the center, fold the two wings down. Once the wings are folded, flip the aircraft onto its back. From there, fold the gear in towards the fuselage. The angle of the fold should be parallel with the fuselage. This can be checked and assured by aligning the front of the gear with the leading edge of the wing.
Step 5: Fold The Winglets
About 3/4 of an inch in from the wingtip, fold the winglet up. Then repeat on the other side.
Step 6: Tape Your Python
From its previous position, unfold the Python so its fuselage, fins and gear are deployed. Then take the fuselage together and afterward tape the gear to the bottom of the wing.
Step 7: Flight
To launch your Python, throw like a dart (albeit slightly pitched-down). Enjoy!