It's not a box and not a bag, so what do you call it, a bog or bax?
When my kids were back in elementary school, I was always a "room mom". (Do they even have those anymore?) I was always looking for inexpensive & easy crafts to do with the class, especially for the holidays. This one would qualify. It would just take a little time doing the scoring ahead of time, and rather than panels, I'd probably just let them decorate with stickers or drawings, and I would definitely use curling ribbon. Boy, I miss those days!
Don't forget- make it a good day for someone else & it'll come back to you!