First:
Fold the left piece into the middle.
Next:
Fold the right piece into the middle, crossing over the first piece you crossed (makes an x in the middle)
Continue these steps. The next step would be to cross 2 into the middle, then 3, then 4 then 1. If you are making x's, 2 and 3 would make an x in the middle, then 4 and 1 again, and so on...
It looks very pretty! I taught myself how to do this when I was little. Fun variation on the regular English 3 piece braid and can be done with different textures with hair, ribbons, yarn, etc.
Follow me on Pinterest! I am there all of the time anyway. Nicole from HairFare.