My niece will be graduating soon from University and for once I'm a step ahead and have the card ready!!! (this is a first - I might have to lie down!!)
I used the congrats embossing folder by Cuttlebug on red card from Lasting Impressions that has a white core making it ideal for sanding to really make the words pop. It's not very clear from this photo but the main "congrats" is v. glittery with crystal stickles and there is a sparkly red twinkle mini dot sticker (A muse) on the grad cap.
The cap is an A muse stamp from one of their clear steps which I punched out with a circle punch and mounted on a slightly larger circle.
The black and white gingham is by Creative Impressions and the red stitched grosgrain is A muse.
TIP: Just change the image in the circle tag and paper for different occasions, e.g. little baby shoes for baby congrats, or wedding rings for wedding congrats.