First, cut all the flaps/edges off your cereal box, but don't throw them away!
So you end up with this.
Now wrap your box like a present and don't make any folds or tape anything on the sides if you can, this will just make it look messy.
You should end up with something like this.
Now you need to hole punch the top of the box on both sides.
Now use one of the cut-off flaps/edges and wrap it up.
Now measure and cut out a piece of white (any colour you want) and stick it on one side.
Now hole punch the top corner.
Now put the ribbon through the hole on the top of the bag and stick it down. Repeat this for each side and you should have some handles!
you should end up with something like this.
Tape or knot the tag onto one of the handles with some ribbon.