Take the paper and fold it down length-wise toward you, creasing the middle.
Fold the top right corner over to the center of the left side. This will create a diagonal crease running down from left to right from the top right corner.
Fold the point touching the center of the left side over to the right so that the top edge meets the right side of the paper perfectly. This will create another crease, this time running diagonally down right to left from the top right corner.
Take the left side of the paper and fold it over this last diagonal crease. Crease here again. This will cause overlap on the right side, which is correct at this stage.
Turn the paper over. There will be a flap underneath on the left side. Fold it over the edge into the shape and crease.
At this point, the shape should resemble a flat paper airplane. Take your scissors and cut at an upward angle from the bottom right corner through the point of the flap all the way up to the left side.
The top right piece will fall away from the rest of the paper. Discard the rest of the paper and pick that piece up. Unfold it, and it should be a perfect five-point star.