Begin with a square of paper.
Cut the square into two large triangles, from one corner to the opposite corner.
Fold one of these triangles in half and cut along the fold line, creating two equal triangles. Set aside.
Fold the point of the second large triangle to the long side, and cut along the fold. Set aside the newly cut small triangle.
Fold the large parallelogram in half and cut it into two pieces.
Fold one of the smaller pieces so that it creates a triangle and a square. Cut along the fold line. Set aside the triangle and square.
For the remaining piece, fold up one side into a triangle shape, so that you are left with a triangle and a parallelogram. Cut long the fold line. You should now have seven shapes with which to create new shapes.