Step 1: Supplies
fabric of your choice
tassels/notions of your choice
grommets (you can buy these in the scrapbooking area of any craft store)
grommet smasher (find 'em right by the grommets)
Step 2: Cut & Sew Forms
Take a circular template slightly larger than your nipple diameter and cut it out of the craft foam.
Cut a "Pac Man" shape out of the form. Be sure your first cut goes to the middle of your circle. If you want tassels cut a small portion out of the center for the grommets.
Hold the two sizes together to make a little hat shape. Check to see if it fits you. Trim as needed.
Sew the two sides together.
Make four of these. Two of them will be against your skin so take care that your seams are as smooth as possible (we'll refer to these pieces as the bottoms). The other two we're going to sew your fabric on (we'll call these the tops). The bottoms should be slightly smaller than the tops and don't need grommet holes.
Step 3: Sew Fabric & Notions
Cut a straight line from the outside to the middle of the fabric just as you did for the foam. Don't forget to also cut out your grommet hole.
Spread the tacky glue on the top.
Line up the center of the fabric with the center of the tops. Put a little glue where the fabric will overlap and press flat. Some fabric will allow the glue to bleed through but most of the time it will be invisible when it dries.
Fold a part of the fabric over to the underside and start sewing. I've found pleating the excess fabric before sewing gives a flatter finish. Do this one pleat at a time. If you really have a lot of excess fabric inside trim it off.
Step 4: Attach Grommets & Tassels
Rest the grommet smasher on the inside of the grommet and gently tap with a hammer until the inside splits like a flower. Hammer gently so you don't warp the front of the grommet.
Insert your tassel through the front hole and sew to the fabric inside of the top.
Step 5: Finishing
Secure to nips with eyelash glue or double sided tape and you're ready to shake up the party!