Hey hun i am thinking of making some myself and have actually asked a couple of the WAHM's on FB and they have been more than happy to help out, they have told me that 3/8 GROSGRAIN ribbon (or maybe it was 3/5) is the best to use, most of them use a hot glue gun.
I have bought some off FB and looking at them i have figured out how i will do it myself, i think it will take a bit of practice to get them perfect though.
If you like i can PM you the details of some of the people i have bought off and maybe buy 1-2 of the kind your looking at making and then just see if you can copy it?
E-Bay seems to have some GROSGRAIN for cheapish (and the FB gals said they get a lot from there) but they said look out for Australian Ribbon as it's better quality than some from o/seas.. but it's all trial and error i guess... let me know how you go, i should get off my butt and try some for my girls too.
I'm addicted to clips and am going to make a clip holder, they can look awesome and be a feature in the girls rooms.... a few FB pages have them for like $20 etc but i think i might design my own.

***will check ribbon and let you know***