Choose which size pentagon template you'd like to use based on how big you want your final star. Trace the pentagon template onto the back of your paper and cut along the lines. Place the pentagon on the table in front of your, printed side down.
Fold #1: With one corner of the pentagon pointing away from you and one of the flat sides of the pentagon toward you, fold the pentagon in half right to left and crease. Open it back up and rotate so the next point is facing up. Repeat the fold and open it back up. Repeat 3 more times for a total of 5 folds.
Fold #2: With one corner of the pentagon pointing away from you, fold the bottom flat side upward. Match the bottom two corners of the pentagon with the fold lines that extend to the side corners. Crease. Open it back up and rotate to the next corner. Repeat the fold until you've done it 5 total times.
Fold #3: With one corner of the pentagon pointing away from you, lift the lower left side of the pentagon along the crease from fold #2. Also lift the bottom of the pentagon along the crease from fold #2. This will cause some of the paper to stick up; fold it down to the left and crease. Open the pentagon back up and rotate it to the next corner, repeating the fold for a total of 5 times. (This step is easier to see on the video.)
Fold #4: Bring each of the straight edges of the pentagon toward the middle, allowing each of the corners to fold as the pentagon closes into a star shape with a small pentagon in the middle.
Fold #5: Flip the star over to the other side. You will see points along the outside and a pentagon shape in the middle. Fold one corner of the pentagon in to the middle, creasing the fold all the way out to the point to create a sharp star point. Rotate and repeat. When you get to the 5th fold, you will have to slightly open the 1st fold to complete it.
Press down along each final fold. If you'd like to make your star an ornament, punch a small hole near the top of one point and thread twine through it, then tie in a loop.