Here is a really fast and easy frugal craft, a beaded bookmark! It doesn't take much to make and it would make a cute gift as well!
(Sorry about the pic. quality guys! I REALLY need to get a new camera but while I'm working up funds ya'll will just have to put up with me! :)
18 in. hemp cord (I didn't have that so I just used some thick thread)
Make a knot about 2 in. up from one end.
String your beads on and make another knot above them.
Do the same on the other side but making sure there is 10 in. in between the inner knots for the book.
Trim off any extra.
And there you go! (I think the hemp cord would look better but the string was all I had!
>I was being frugal< ;D