Mad Libs, with their elements of nonsense and the occasional (and purely accidental, we're sure) off-color joke, are a perennial hit with kids.
For each card, roll up one Mad Libs page, then roll a piece of origami paper (ours are 3 inches square) around it. Secure the roll with a length of yarn and tie it.
For the tag, cut out a paper heart and punch a hole in it. Write a message on the heart, then tie it to the scroll.