I used Wild Wasabi and Real Red for this one. To create the "quilted" or "tile" pattern I used my Simply Scored tool. I place the paper on an angle with one corner at 2 1/2" and scored every 1/2". Then I turned the paper 90 degrees (with the same corner now at 4") and scored again every 1/2". While it's hard to see here, I also sponged the card stock with ink to give it some more texture.
I used "Stitched Stockings" and "Four the Holidays" stamps sets. The puncehs used are the Stocking Builder Punch (from the Holiday Mini) and the Dotted Scallop Ribbon edge punch.
It's a little time consuming but not too bad and I really like the overall look.