I made this simple fabric gift wrap for a friend's birthday present...
1 fat quarter of fabric made into a square, then the same in a lining fabric. The box my present was in measured about 4" square. [it was a candle...]
Right sides together, sew all the way round leaving a gap of about 3" for turning.
Turn the right side out and press. [No need to sew the opening closed]
Top stitch all the way around.
Fold the corners over by two or three inches and sew, leaving a 'tunnel' about 1" wide.
Thread ribbon through the corners and when you draw it up little petals appear on top of the present!