This was my 2010 Christmas ornament design. I made a lot of them, so it was worth it to buy three star punches, though it's also possible to only use two sizes, depending on whether you want the small metal star in the middle. You could also experiment with cutting the aluminum by hand. It's fine for your scissors—in fact, it sharpens them!
3 sizes of star punches (I used Fiskar's star squeeze punches, which seem not to be available anymore on their site, though I do see some of them at Amazon.)
1/4" circular hole punch
toothpick or other stick, to apply glue
36 gauge aluminum tooling foil (available here for instance)
Step 1: Cut out and emboss the stars
Starting with the four big aluminum stars, use the ball-point pen to emboss three of them. I found simple dots to be the easiest and prettiest.
Two of the four stars will be facing forward (though the center of one of them will be covered), two will be facing backward. I put the year (remember, in reverse!) on the very back star. What you will be doing is making a rightside-up star sandwich and an upside-down star sandwich, and putting the upside-down one inside the rightside-up one (and then adding the paper and final metal star).