I am using soft ribbon by Mokuba for this tassel. However, all of the materials can be substituted – you can use ribbon or other materials of different widths and thicknesses.
Simply wrap the ribbon around your hand (or another object that will give you the length of tassel that you want). How many times depends on how thick you want your tassel to be.
Take a wire and loop through the middle of one end of the coil of ribbons. Wire wrap it tightly and trim, leaving an inch or so of wire on one side for wire wrapping the tassel into a piece of jewelry later.
Take another piece of ribbon, at least 10cm long, tie the top of the bundle 1cm from the wire wrapping (the distance depends on the size and the look you want). Finish the knot inside the bundle of ribbons if you want to hide the knot, but you don’t need to.
Take your scissors and cut the ribbons. Now your tassel is finished and you can simply attach it to something or even add a cone onto the tassel.