I used a Sizzix circle die set to cut the 'o' and wrote in the rest of the of the word freehand. Using a die from my frequently used Little B tag set, I did a similar design on the tag which I will use on plain handled bag. The 'o' could be cut with oval dies but I felt the circle 'o' had a more Asian look.
I hope this post has inspired you to make simple, quick 'omiyage gift bags and tags. They really only take a few minutes and will make the recipient feel very special and know that you are grateful for them. Okay, go use up those origami paper scraps!