Well... I've looked through instructables here and haven't found this done so... yea... hehe... Below is the final product

Step 1: Two Projects Combined

Ok... this whole project really is two projects put together...

1. The original LED Throwies tutorial: LED Throwies
2. How to make an origami star: Origami Star

Essentially here are the items you will need:

1. 5mm Super Bright LED:
I got from ebay... 105 of them for $9.99... 7 different colors :D

2. CR2032 3V Lithium Batteries:
just looked through froogle.com goes around $0.50 - $2.00

3. 1-inch wide Strapping Tape:
I'm using duct tape here cuz i don't have any strapping tape... hehe... can be found pretty much anywhere

4. 1/2" Dia x 1/8" Thick NdFeB Disc Magnet, Ni-Cu-Ni plated:
can be found at Amazing Magnets & KJ Magnetics

5. 1.5cm x 18 cm strip of translucent vellum: found in most art stores... got mine from Utrecht

Step 2: Let's Get Started

Alrighty... now to get this goin...

First off... try and get the LED wires as close to each other as possible with out them touching... use pliers if you must

Now begin making the star by making the "knot". After that's made insert the LED into the pocket with the longer paper end sticking out. This will cause the paper to be bloated but don't worry, just try and keep it tight. Next fold the longer paper end across so that it traps the LED, pictures below should make more sense. Then continue on finishing the star. When done pinch in the sides and you've got the star.

Step 3: LIGHT!!

Now for the battery...

Stick the battery in between the two LED legs. If one way doesn't work the other way should make it light. After it's lighted, take the tape and cover over the battery partially. Place the magnet on the tape and cover the rest of the tape around it.

There you have it. All finished. Go have fun and throw your lil stars around :D