This means changing your P1.svg to a P1.eps. In Inkscape, this is an easy task.
Choose "Save As..." from the "File" menu. A dialog box appears (see image below). Change the name to "Red Bells". Now choose "Encapsulated Postscript (*.eps)." from the drop-down list.
Now click "Save". When the "Output" panel appears make sure the "Convert texts to paths" tickbox is ticked, then click "OK".
If you want to cut your decorations out of more than one material, save another copy of your .eps - we named our second one "Arctic Ice Bells".
Note: his movie seems to pause after 8 seconds of playing. You can continue playing the movie if you nudge the slider forward and click play again.