One of the most popular gift and craft of friendship is a friendship band. Use wool in different colors to make one for your friend. Take either three or six different colored threads of wool and plait it like you plait your hair. Make a loop at one end and leave the other end free after tying a knot so that it does not open. You can decorate it further with some sparkle or small stars. You can also make the same thing with ribbons in case you don't have wool. You can also add beads of your name and your friends name to personalize the band.
You need an empty basket for this along with other materials like ribbons, glitter, small stars and cut outs that can be stuck, etc. Begin by cleaning the basket and paint it if it is damaged here and there. Let the paint dry and then begin by sticking the ribbon along the sides on the basket. Make small bows and stick them at strategic places on the basket. Sprinkle generous doses of sparkle / glitter and stick small funny cut outs and stars sporadically around the basket. Make a small banner and stick it on the basket so that it looks like an arch. Write out something like "For my Best Friend!" on the banner. Fill the basket with goodies like candies and chocolates. Tie a bunch of balloons at one end of the basket and see the smile on your friend's face when you gift the basket!
Take some cardboard and cut it in the form of long rectangle. You can use variations like keeping one end of the bookmark arched. Stick a ribbon at one end of the bookmark and draw out some cute illustrations on the corners. Write out a funky quote on the bookmark and decorate with some colors and glitter. You can also write a nice friendship quote if you want to give it an emotional touch. Your Friendship bookmark is ready.