As a felt artist, I was looking for something to use to attach my felt flowers to. I am playing with these banners for a while, and thought I'll share my steps, how to make it. You can customize it as you wish - no need to add the flower accent on it, since it's already cute enough :)
Once you opened the file, you'll see that everything is on different layer. You can decide if you want to have the exact same design as I made (so you can keep them as is), or you want to change something.
The text is there in 2 formats: on the canvas, I have the fonts welt (to make sure that you have the exact same letters), but also added an extra layer, what you can customize as you wish. The original font type is Alphakind, and the size is 100. (not sure if that was built in in the program, or it was mine).
Once you cut out everything, you need to start paint. I made the letters all different colors, the bunny white, and the scored element on the ears peach. (to do so, you can use any regular acrylic paint; for small things, I use POSCA markers). Also, you can add a face to the bunny.
Once you are ready with the painting, let it dry (few minutes should be enough), and glue them together.
If you have felt or paper flowers like me, you can add them too with a glue gun.
Then, you just need to add a string, and you are done. Enjoy your work!