This paper airplane is designed to fly straight and far. Though if you tweak the wings, it is possible to make it fly in an arc and come back to you.
Find a piece of normal 8.5" by 11" paper.
Fold the paper in half long ways. Make sure this fold is a symmetrical as possible - most of your other folds will be based around this line. If it's not centered, your plane won't fly well.
Fold the top two corners in so they just touch the center line. Again, try to keep them as symmetrical as possible.
Fold the point down so it looks like an envelope.
Fold the corners to the center line again.
Fold the little triangle up, this helps hold the larger triangles down.
Fold in half along previous center crease.
(Note boxes in this picture for the next step)
Fold wings down so they are parallel with the bottom of the plane.
(Note boxes in previous picture to see which edges to make parallel.)
Fold wings back out. They should make a slight "Y" rather than a "T". This keeps the center of gravity lower and makes the airplane more stable.
Go fly your paper airplane! This design works better when thrown with medium force.