Here’s how: Select two complementary felt colors. Using an iron on medium heat, adhere freezer paper waxy-side down to both pieces of felt. Trace pine cone “petal” template onto the paper and cut out shapes. Peel off freezer paper. Make a hole in the center of each petal with sharp scissors. Make petals sets, using one of each color. Slide petal sets over a wooden kitchen dowel in the following order: A, B, B, C, C, B, B, A, D, D. Alternate the position of each petal so that they resemble a pine cone. Between every petal set, place a very small square of felt as a separator. Cut the excess dowel with scissors. Glue the E petals into a cluster and glue to the top of the pine cone. To make a stem, cut a small circle of felt with pinking shears and make a hole in the center. Insert a thin strip of twisted felt through the hole and glue the circle and stem to the bottom of the pine cone petals.
I found this free pine cone tutorial at FamilyCircle.com (link below, still working on making it active!)