To start you need a foam wreath (mine is 18" but yours can be smaller!), one skeen of yarn (or 2 if you do a 18"), and sheets of felt (the color of your choice).
Now you need time.
Wrapping the wreath takes some time so sit down, relax, watch a show or something and wrap your wreath. You can start anywhere on the wreath to wrap it. Just make sure you cover the foam wreath and keep it fairly neat and that's it! Since my wreath is so big it took me about 3 hours! But well worth it. ;)
Now for the fun part.
With your felt, cut a circle.
Next cut into your circle around and around until it is all cut up.
Last, "re-wrap" your felt to make a flower.
I chose to use red, yellow, and cream for my flowers. I also added pearls to the centers for some more cuteness. I didn't measure the circles to make various sizes. I just made the flower and snipped some off when I wanted it smaller. I only hot glued the end of the flower to keep it together because when I glued them onto the wreath, I used TONS AND TONS of hot glue so it wouldn't go anywhere! So far it hasn't.
I arranged my flowers according to my liking but of course you could do anything you want! I've seen these wreaths in so many different ways. There are endless possibilities. If you need more inspiration you can visit Etsy and search "yarn wreath" to find some more examples.
The finished product!