Take scissors (or a craft knife) an cut the top of the box like so (I used no measuring tools for this- I did use a piece of paper to help me draw straight lines before I cut.
Wrap the fabric around the box and back to the short side. Put another bead of glue on the starting line and fold the end of the fabric under before pressing down.
Cute easy and (if you're a fabric hoarder like me) practically free. I had everything I needed for this project laying around my house. (Perfect for a snowy day when you're stuck inside the house.)