I figured Heat and Bond would be the neatest and easiest way to make these. It keeps the fabric from fraying and if you want, there could be no sewing involved. I cut two squares of fabric and a square of Heat and Bond a little smaller (you don't want this stuff stuck to your iron!). I ironed the fusible to one piece of fabric, peeled off the paper, and ironed it to my other square. I then pinned my heart template down and cut it out.
I then stitched around my heart, glued on some ribbon and a button and hung with care. I made one without sewing around the heart and it worked fine but did curl a little at the round parts of the heart. So here are the finished products: