1. Get some paper (newspaper, scrap paper, packing paper, anything that's on the thinner side), Mod Podge or PVA glue, a bowl with a smooth bottom that will be your mold, and either plastic wrap or foil.
2. Wrap the outside of your bowl with the plastic wrap or foil. (Update: Having tried both now, foil is better.) Smooth it down as much as you can and fold the edges into the center of your bowl.
3. Rip up your paper into bits.
4. Flip your wrapped bowl upside down and set it on some sort stand, like a glass or jar. Coat both sides of each paper scrap with Mod Podge. (I dipped mine in the glue and used my fingers to smear it on.) Smooth each piece onto the outside of your bowl, overlapping the edges. (See here for pictures of the process on a similar project.) I kept adding paper until I had about 3 layers.
5. Wait for the bowl to dry. Mine took two or three days. Seriously. Wait until every last bit of glue showing through the plastic wrap dries clear.
6. Freak out a little bit, wondering if you'll be able to pull your original bowl out of the paper. Pull the bowl out of the paper. Breathe a sigh of relief. Remove the plastic wrap.
7. Use a sharp scissors to trim off the rough edges of the bowl.
8. Paint if desired. I was just going to do just the inside, but decided to keep going. (Note: painting your vessel white will make it look like a creepy mummified bowl, so be prepared to add some decoration. I used a DecoColor paint pen to draw on a design.
Please don't eat cereal out of your bowl and sue me when you get sick. It's not food safe! Use it for wrapped candy or keys or loose change.
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