1. Take your fabric right sides facing out (yes I know this is weird) sew at presser foot width.
I had 2 different colors of thread in my machine just ignore that.
2. Turn your fabric wrong sides out & sew at a larger allowance (ie. 1/2in).
This is what your seam will look like on the inside & the outside. Very clean & finished. Yours will be more crisp if you iron them. I was making a fast gift bag & was lazy.
If you take a piece of ribbon fold it in 1/2 and tuck the folded end into your seam as you are sewing step 2 you can have a cute little tie for gift bags.
This can be done at any size seam allowance just make step #1 at a smaller allowance than step #2 so all your loose ends are tucked in.