One of the simplest pennant banner instructions I've seen. I'm thinking of making these for my daughter's birthday party rather than expensive and annoying balloons. To hang, just put up a couple of thumb tacks for each banner.
These were the inspiration behind my party bags. Instead of handmaking the rainbow, I found a great rainbow Clip Art on the computer and set up "Thank you for coming to my party. Love, Sydney" under it and printed them in color on brown paper bags.