Time: 3-4 hrs (most of it cutting time)
On each printed page of the template, there are 4 outlines. The outlines of the pieces are the same, but two of the pieces are "tops" - where the slits come in from the arced edge - and two of the pieces are "bottoms" - where the slits come in from the tips of the holly leaves. All the tops should be cut from one color and the bottoms from the other color. You will need 8 of each color, 16 pieces total.
To cut, I affixed my cards to the back of the template using clear tape. You don't need to worry about cutting hard enough to get all the way through the card on the first pass. I just cut along the black lines, then removed the template and traced over the cut lines to get the rest of the way through the full thickness of the card.
Assembly is a bit tricky. Insert similar length slit into each other. Describing it in writing is a bit tricky, you really just have to try it. It becomes obvious pretty quickly. Watching the video tutorial should help.