Here are some great tutorials to help you create your own papel picado banners!
Unschool Me - Making Magic Windows (3 designs)
Aymujer on Etsy Blog - How Tuesday: Papel Picado (required xacto knife)
Crafty Lady Abby for Skull-A-Day - Dia de la Abby #63: Skull Papel Picado (Xacto knife and scissors required)
Mariasol Danziger - Papel Picado Tissue Paper Banners
Craftingeek - How to Make Papel Picado - 4 Styles (English captions)
Happythought - How to make Papel Picado for Day of the Dead (uses simple template design)
eHow - How to Make Mexican Papel Picado : Festive Decorations (uses a full tissue paper sheet)
Even if you don't celebrate Dia de los Muertos on November 1st and 2nd, hopefully these tutorials will give you some ideas for festive party and winter decorations.