Of all the paper planes I have made this one is the fastest, and is easy to make too.
Step 1: Fold in Half
Fold the piece of paper in half and then unfold it so you have a crease in the middle.
Step 2: Fold the Start
Then fold the top corners of the paper to the center crease.
Step 3: Fold Down
Now fold the top of the paper to the bottom of the last folds.
Step 4: Fold Again
Fold the new top corners to the center crease.
Step 5: Fold Inside Last Time
Fold each side to the center crease
Step 6: Fold in Half
Fold the whole plane in half on the center crease.
Step 7: Make Wings
Fold the wings to the bottom of the plane and level them like real plane wings.
Step 8: You're Done!
Now throw with light to medium strength to get it to go fastest and farthest. Have fun!