I've created some different altered hang tags recently...trying to get away from doing only individual hang tags all the time. This set is one I've done using some chipboard vintage photo buttons.
I started with four plain hang tags and used my usual secret grungy sauce mix to grungy them up. Then I took a rubber stamp that has a sort of textile/fabric texture to it and stamped each tag near the center using brown ink, just to contrast a bit with the grungy background. Then I took another decorative rubber stamp and used black ink to create a decorative ground for the buttons. Next I took four different chipboard buttons, all feature vintage photos of children, and added them using a black metal button fastener, for just an added pop of color. I finished each hang tag off by rubber stamping on a different word to each tag, and adding a brown satin ribbon to each as well.