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I like this idea of the box with the graduation cap lid. Maybe make it bigger and fill it with other things too like gift cards etc...

Etsyfrom Etsy

Handmade Stampin Up Happy Grad, Cap and Tassel Graduation Card - 4.25" x 5.5" - You Choose Color Combination

Happy Grad, Cap and Tassle Graduation Card

Cap & Gown Graduation card handmade Blank inside by Cardsters, $4.95


Grad Cap Gift Card Holder Tutorial

geslaagd idee ! cardmaking tutorial from Qbee's Quest ... photo tutorial on her blog ...

Cute Rosettes with Washi Tape

It's a Sale-a-bration Celebration! Loving these sweet Envelope Cards and here's one using Sweet Sorbet DSP and Petal Parade from Sale-a-bration - more details on my blog at www.stamp-a-latte... #saleabration #stampinup #bannerblast