Pick a paper of any kind and cut it into a perfect square. In order to make quality throwing stars, try to use a stronger paper. To cut a perfect square, fold a triangle on the paper and simply cut the little strip left behind.
Open the paper to have the square shape and fold it in half. The bottom right and bottom left edges should join the top right and top left edges respectively. Unfold the paper and cut it across the line to have two equal rectangles.
Fold both the halves in such a way that loose edges face each other.
Now you need to make four triangles on all the four edges of the two rectangular pieces. Pick one of the two papers; grab the bottom right edge and join it with the other end of the paper. Similarly, grab the top left edge of the paper and join it with the other end of the paper. Repeat the same steps with the other rectangular piece as well.
With one right point, fold the left arm of the traingle in such a way that it meets both the edges of the triangle you had made in the previous step.
Pull the triangle arm up in such a way that it meets the other triangle fold.
Repeat the same steps with the other piece of paper, but this time fold the triangle arms in the opposite directions.
Now turn the first paper over and put it on top of the second one. Make sure that all points of the triangle are facing to the left.
Grab the edge of the far left corner and give it a complete fold, making a crease. Repeat the same steps for all the pointy edges.
Turn the whole thing over and start folding all the triangles. This will eventually make one upside down triangle and an upwards facing triangle.
Tuck the loose points inside the little space in between the whole shape.