Tape (colored tape looks really nice but is not necessary)
Paint, markers or crayons
Pipe cleaner
Hole punch
Optional - googly eyes, glue
Fold a paper plate in half (fold it so that the back side of the plate is touching itself).
Using another paper plate, cut out a strip of the plate from the middle (discard the middle strip).
Tape each of the half-round pieces you just cut onto the folded plate (or you can staple them together). Position them so that the eating surfaces of the plates are facing each other - tape along the round edges only.
This will form two pockets where you will later put your fingers and control the puppet.
Draw a butterfly on your puppet. Punch two holes towards the top for the antennae, and loop a pipe cleaner through the holes (to be the antennae).
Optional: Glue on googly eyes.
Back
You now have a great butterfly puppet that flaps its wings (with a little help from your hand).