i realized as i was searching for paper airplanes that there is already an instructable on this plane but i assure you that i knew about this plane before i saw that instructable. enjoy....
(too bad i didnt finish in time for the toss it contest...oh well...mabey next time ;)
Step 1: Starting the Plane
To start this plane you should use your average size printer paper.
Step 2: Some More Folding
this is the easy part, after this it gets hard...super hard, na just kidding...
Step 3: The Hard Part
(ok so i lied...sue me!) This part is a little hard to understand.
Step 4: The Easier Part
from this point on it gets alot easier. All you do is flip the plane over and fold the tip down...then flip the plane over again and crease half the bottom section then tear it off. this will be the start of your tail.
Step 5: The Wings
now you are almost done!!! after the wings are folded add your newly made tail into the plane and then your done!!!