The Peony
The Peony wrapping style may appear daunting, but it's surprisingly quick and easy to master. You'll be amazed at how simply it comes together. It primarily involves folding the chrysanthum wrap (also known as 'otsukai tsutsumi' in the Japanese wrapping techniques) as shown earlier, but with an added twist at the end.

How to Fold the Peony

The diagonal length of the cloth should be approximately five times the length of the item to be wrapped.
This, however, largely depends on the height of the item. For very tall items, the cloth should be even larger to effectively utilize this wrapping technique.

Spread the cloth in front of you, placing the side of the fabric that should be shown later face down.
Position the item in the center of the fabric, and fold the upper left corner over the item.
If the corner of the fabric overlaps the item to be wrapped, tuck the cloth behind the present to prevent it from slipping out of place.

Continue to fold the lower right side of the fabric over the gift.

Now, tie the lower left corner and upper right corner together with a half knot at the center of the item.

Next, gather all three ends on top of the gift. Fold them clockwise (or counterclockwise, if you prefer) into a peony shape and tuck the ends underneath the knot.

If necessary, use a chopstick to perfect the blossom shape.