I found Home Depot to be the most expensive ($4.20) and Dunn Edwards to be the cheapest ($1.78) for a one gallon can.
You could also purchase the clear pails like from Stampendous (pictured above) but then you would have to alter the instructions accordingly.
Don't forget to pick up a paint can opener (or key) as well.
2. Pick your paper and coordinating embellishments.
3. Plan your layout design before you start, maybe jotting a sketch down.
Here is the Sketch I made... notice it shows me where my darker solid paper is, and where my patterned paper is and that it has a torn bottom edge. I also knew I wanted to use sheer ribbon around the can with a flower on it.
Of coarse I made that sketch all for you, but really it's all in my head... I just want you to know you need a plan.
4. Lay your can on it's side and hold your paper parallel to the top of the can and up to the handle knob.
* You will need to hold the top of your paper at different distances from the top of the can depending on your design plan... notice mine is not right up to the top.
Then hold a piece of scratch paper the opposite direction (also up to the knob) and make a mark... do this on both sides of the knob.
5. Make another mark so you know about where you want your paper to end.
(In my case this is about where my paper will be torn.)
6. Punch or cut a 1" circle out and fold it in half.
7. Line that half circle up with the marks you made in step 4, trace it and cut it out.
8. Cut your paper to 10 3/8" wide.
9. Use your cut side as a guide to trace the other side... then cut that side out.
Test your paper on your can... I noticed at first I had a hard time knowing where my paper should go, so I pictured a couple tips that will help you line things up.
You could take the scratch paper your circle was punched from and place it evenly around the knob to show you how far your real paper should be from it...
Or you could simply use scratch paper to estimate the center of the knob and make a mark on your can, this is about where your paper will start.
10. Now since you need a second paper the same as your first to go on the other side of the can, simply cut your paper 10 3/8" wide by whatever height your first paper is... trace your half circles and cut.
*GOOD TIP: Make a template out of left over plastic dividers by cutting it
10 3/8" x 7 7/16" and repeating steps 4,6 and 7 twice... make sure you test your template every time you use it as not all cans are the same.
11. Use your template (or your can) to make a mark for your bottom paper's height... cut it at your mark and at 10 3/8" for your width.