Pictures might help....
Cut 16- 4" x 1/2" strips of heavy paper....I used scrap book paper.....I collect it!! Make holes about 1/8" from the end. Use an awl, a very big needle, or a tiny paper punch.....your choice!!!
Cut two 1'' circles and make a hole in the centre...
Cut a piece of wire about 5" long and make a loop on one end.
Make a tube of paper 2" long and close with tape.
If you want, you can add a bead to it, but you don't have to. If you want a circle on the outside cut two more circles out of the paper you use or something that compliments it.
Put the bead on the wire...put the strips on the wire...add one of the 1" circles, the tube and the other 1" circle.
Now taking the bottom, or first, strip, feed the wire through the hole. You will have to bend the wire a little bit to accomodate this move.
The picture below shows the paper being fed from the bottom of the stack....
Continue putting the paper on the wire until all the strips are on.