First, find the album you want. A binder notebook, an uncovered photo album or, in this situation, I used a business card album. This also works with notebook journals.
Figure out your theme. There are cheap fabrics and left over fabrics you can use, or maybe you have your own stash somewhere. For this theme, because it is a business card album that I place business cards in, thus sharing information with others, I used a pendant that, to me, looked like the earth. I used jewelry pieces that say "wish", "believe", "inspire", "share" and "create". For another photo album (see below), I used red beaded fringe, red fabric, and lady accessories such as shoes, a hat and a handbag. Choosing a theme is the funnest part, and your options are endless.
I could go crazy at Michael's, Hobby Lobby, or any other craft store. You can use iron on transfers or glue your own accessories from wood, jewwels, or anything. If you can sew, you have even more options! (Unfortunately, I don't/can't sew).
The materials you need will vary. A low-heat glue gun works best. Find fabric you like and some decorative accessories, like iron on patches and trims. You also need some kind of poster board (I use thick stock paper) for the inside of your album.
Measure the fabric around the album and cut to where you have a half inch to an inch of spare fabric.
Glue the fabric using a low heat glue gun.
Trim any excess pieces.
Measure, cut, and glue any trim pieces, fringe or ribbon you want to use around the album.
Take a piece of poster board or stock paper and measure the inside of the album. Cut the poster board so you will have just enough space to cover the inside, without it overlapping the outside.
Measure, cut and glue your fabric around the poster board. One side doesn't need fabric, since it will be face down on the inside of your album.
With your low heat glue gun, glue your covering to the inside of your album. This goes on top of your trim work, so as to cover the fringe or ribbon you used.
Adorn the outside with decorative pieces.
Admire your finished work.
Here are other albums I've done. They aren't perfect by any means, but they were fun, and that's the beauty of art.