spool of thread
Step 1: Cut your ribbon to length.
Measure and cut your ribbon to the desired length. Keep in mind you will be folding it over at both ends, so allow enough length for that.
Step 2: Stop the fray.
You can use Fray-Check if you prefer, but I think it works better to take a match and run the ends of the ribbon across the flame so they slightly melt (provided it's got some polyester in it).
Step 3: Thread your ribbon through the suspender clip.
Step 5: Thread your ribbon through a small hair elastic.
Step 7: Thread the hair elastic through a hole in the pacifier, or the handle if it has one.
Step 8: Thread the clip end through the hair elastic and pull it though.
Step 9: Pull it tight and you are done!