you need: a single piece of paper.
Step 1: Step One: Start Folding
Step 2: Step 2: More Folding.
After you fold in the first step, fold the tip down down to about the middle of the paper. Next, make sure you fold it like in the pictures! Fold the top left & top right corners again, but leave some space in between where the two folds meet. See picture for example.
Step 3: Even More Folding!!
Fold the tips of the wings down, see pic.
and last but not least, fold both wings down to their sides to where the base of the plane (where you hold it to throw) is in between a half inch and an inch.
then straighten out, and you're done!