This is the graduation card I made for the daughter of a family friend. I've been making graduation cards like this for several years. I folded my card base and placed the fold just below the cut line on the Top Note die (Stampin' Up!). I added the red strip directly on top of that. I think it's fun to make them to match the school colors. The sentiment and cap stamps are also from Stampin' Up!
Now for a little confession, I remember watching an episode of Three's Company where Crissy made a banner for Jack's graduation and she put "Congraduation" on it. For years after that, I thought congratulations was spelled with a "d" instead of a "t"!