Like half of the rest of the stamping world, I've been looking for one of the elusive Fiskars Threading Water punches, with no luck. (But I'm on two waiting lists!) In the meantime, I thought I'd keep making scallops the old fashioned way. I like deep scallops, but sometimes those scallops need a mat layer in order to make them show up well. It dawned on me that if I used both my SU corner rounder punch and my SU slit punch, I should be able to get a deep scallop and mat it in a shallower scallop. I'm probably not the first person to have had this "eureka!" moment, but I haven't seen it posted elsewhere that I can recall, so I thought that I would share it with you in case you hadn't thought of it yet. You can click on any of these pictures to see them in a larger format, if you wish.
First, the card details: I chose some Webster's Pages papers, Snickerdoodle and Lulubelle from the Pink Lemonade Collection, to showcase my whimsical monogram using the Curlz font DIY Monogram Stamper
Kit. I loved how the flowers in the border of the monogram worked with
the flowers in the background paper! I inked the monogram with two
different colors of chalk inks, Versamagic Pink Grapefruit and Sage, as
shown below. I then used my Spellbinders Plain and Scalloped Classic
Circle dies to cut and emboss both the monogram and its mat layer.
Next, for the scallops, I used my Stampin' Up Slit punch AND my SU corner rounder punch with its base removed. To punch the deeper scallops, use the Slit punch, as shown in step two. It helps to have good lighting since you need to be able to look through the bottom of the punch and align your next punch on the edge of your previous punch. (Ignore the markings on the bottom of my punch. They are there for a different project.)
After you have completed a row of scallops the length that you want for your card front, this is what your paper will look like (3). Probably many of you have done it this way many times before. **Save the scrap of paper that you punched off in step 2. ** The next part is going to be a mat layer with a shallower scallop (4).
For the shallower mat layer, use your corner rounder punch. (You will have to remove its base. Do so very carefully; I have broken two of these by pulling a bit too far!) If you look carefully at the picture on the left, you should see at the lower edge of the shape being punched that there is a little dark area. That is the edge of the previous punch, and that is about the amount of overlap you need in order to come out the same on both sets of scallops. When you finish punching the mat layer, it should align with the deeper scalloped layer as shown below. If it doesn't, you may need to adjust the width of your punch by either tightening or loosening the closeness of scallops in one layer or the other.
For my monogram card, I did not punch holes in my scallops since the base cardstock was close enough in value that the holes wouldn't have shown up well, but I want to show you the simplest way to get the holes in the scalloped layers. First, adhere the scalloped layers together so that they don't shift in next step. Remember the piece of scrap that you had left over back from step 2? You will need it now to mark the position of your holes. Flip the scrap upside down and use the points as guides to place marks for holes (6).
Next, if you have a Crop-a-Dile, set its 1/8" hole depth at whatever depth you want you holes to be. Using a good light, center the marks, push the punch up as far as it will go onto the paper, and punch each hole. (This takes much longer to explain than to do!)
You should now have a perfect row of matted, hole-punched scallops. (And you'll have a new appreciation for that Threading Water punch when someone gets them in stock again!) I hope that you find one, but until then, you can just do it the old-fashioned way with me. . . until my punch comes. ;-D
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For sake of comparison, the picture below shows two different shapes of scallops; in the first picture, you have the two-punch scallop that I showed in the steps above. In the second row, you have a double-rowed scallop done with only ONE punch--an SU corner rounder punch (old version--I don't have the new one) with its base removed. I like the look of the two-punch one a bit better, but the second way is marginally simpler to get the scallops aligned correctly with. Both ways work. I hope that this was helpful to someone!

Credits
Stamps: Curlz font DIY Monogram Stamper
Kit
Cardstock: Natural (Prism)
Paper: Snickerdoodle and Lulubelle from the Pink Lemonade Collection by Webster's Pages
Ink: Sage and Pink Grapefruit (Versamagic)
Accessories: Groovy Guava stitched grosgrain (SU), green ric-rac (May Arts), buttons (Foo-fa-la),
Tools: Spellbinders Nestability Classic Plain and Scalloped circle dies