I have to be honest. I don't know where this idea sprang from. Mandee and I did this when we made our cookbooks last year. I used the same idea this year for girls camp. They turned out darling! All you need is a 3-ring binder (.99 cents at Wal-Mart), modge podge and cute paper.
Cut your paper down to fit the cover of the binder. Use Modge Podge to adhere the paper to the front of the binder. Be careful that you don't use to much, because it will bubble if you do. Press the paper outwards to work out any bubbles.
Decorate the cover as you desire. If you want you can modge podge the cover to give it a glossy finish. We had girls who did both options. The one in the middle was done with gems and used thick dots to give it a 3-dimensional look. We didn't use modge podge on the cover. We used ribbon on a lot of them and just modge podged them on. Some of the girls did modge-podge their binders and then used the cork board letters on after it dried.
We filled each binder with some lined paper, blank paper and sheet protectors so they could save any handouts that they recieved. We also gave them a ton of great quotes that I found here (if you have a calling in YW, you want to bookmark her page), that they could cut out and use on the covers or use to put inside their binder.
The possibilities are endless. These are just a few that I was lucky enough to get pictures of. They were all cute. Happy Modge Podging!