And this is how I do it...
I identify the key components of the card that will make good gift tags. Like that card on the far right, with the wreath and the creepy dog. Just the wreath works as a gift tag, so I cropped that and then I pasted it on some decorative paper. You don't always have to use decorative paper, but I thought this one needed a bit more pizazz.
And then I crop it again and punch a hole in it and then I have a gift tag!
For some cards, you can really get a lot of tags out of them. Like this one...
I got at least eleven tags out of this one card, because I also used some of the internal images that were not marred by handwriting. Speaking of handwriting, when you do use the back page, you have to watch out for that.
Anyway, check out all those tags from this one card.
And here are a bunch of tags with the holes punched out: