Note: make sure your paper is facing up.
Next take the top left corner of the paper and fold it to the right side of the paper. Make sure that it looks like you have a triangle on top of a small rectangle.
Then fold the top right corner to the bottom left corner of the triangle. If you want you can tape this part down.
After that you fold down the tip of the paper to about where the rectangle and triangle meet.
Then fold your paper airplane "hotdog" style.
Next fold the left wing down leaving a small grab hold spot underneath it. Then fold the right wing to the same position.
Finally fold the tip of the wings up to make a stabilizer. Now you have your very own paper airplane!