Better late than never...
This took me about 45 minutes to make from start to finish including photographing. It was nice and simple and would be a great craft for the kids to try. I used the Fiskars Shape Cutter and Circle Template but you could use circle punches if you have them and it would be even easier and quicker.
The original sample I saw for this was the word "PEACE" but you can create a garland for whatever word(s) or phrases you like, just as I have.
Also no reason it was to be on one string only... lots of opportunities to experiment with this.
Mine is one one garland, but because of the length I couldn't get a clear enough picture, so I had to split into two.
Cardstock, Ribbon, Glue Dots, Footprint Creations Flocked Alphabet Stickers, Fiskars Shape Cutter & Circle Shape Template