We've all seen the singe-ed fabric flowers, but this one looks more complicated. LOVE LOVE LOVE it. I love how realistic is looks compared to other fabric flowers. Check out Simply Vintage Girl for the complete tutorial.
How to, with free printable pdf designs, check out Wild Olive. She mentions a specific magnetic tape, but office supply stores sell thin printable magnetic paper that you could cut to size and use instead ... just an idea. (BTW ... i make my own magnetic bookmarks ... my kids have a tendency to throw my books around and regular ones slip right out waaaaaay too often!!)