Packs of heart or oblong shaped keyrings are available from Hobbycraft in the “Make It!” Create and Play range and are currently on a 3 for 2 offer – there are 12 in a pack which should cost £2.99, so I stocked up with Christmas in mind.
The paper I have used was from a page in the Cath Kidston magazine, too good to waste! All I have done is cut out two hearts using one of the paper blanks (also included in the pack) as a template, stuck them back to back and then added a bit of faux stitching and a few tiny gems. The adhesive letters are from the Tatty Teddy You to Me range.