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Faux Rice Paper and Gold Lantern... for less than $10

I bought a gold, metal basket at Michael's a week ago.  Because it was on sale (woo!) and because I've been eyeing something to replace the contractor light fixture we have in our kitchen.

Here is the monster.

Icky lights affectionately called "boob" lights.
Can you see it?

In 30 minutes I had the glass part of the fixture off and covered the inside of the metal basket using the method below.  Please please only do this with LED bulbs and be careful about your safety and the safety of your house.  Here's how I achieved the look.

Step 1: Cut waxed paper in half length-wise, then fold each half length-wise.  Like this.

Step 2: Fold to make a V shape.

Step 3: Fold back over the original piece so it looks like an awareness ribbon.

Step 4: Cut a bottom to lay down and glue to your basket.  Lay the folded shapes over each other to make a pattern. 

Step 5: Check periodically to make sure that your folded pattern design looks good from the outside of the basket...this is the side that will be visible!

Step 6: Line the inside of your folded shapes with one last layer of waxed paper to cover any gaps.  Tape.

Step 7: Hang.  I used gold craft wire threaded around the base of the light fixture. Only try this with LED Bulbs so your paper doesn't melt or have any danger of becoming a fire hazard.

Do you have a nasty contractor light lurking in your home?  What have you done to fix it?