I saw a great card today using this technique, so I had to try it out. The technique was fairly straightforward, was a lot of fun to make, and has impressive results (or at least I think so). Check out the tutorial on splitcoaststampers.
This card uses Heartfelt Thanks and the coordinating Watercolor Joy wheel from Stampin' Up. The inside slider was wheeled in Pretty in Pink, and the outside slider was stamped with the open flower, also in Pretty in Pink. The sentiments are from It's Your Birthday.
The sliders are created using the Word Window and 1/2 inch circle punches. I also used the Round Tab punch to create the opening at the top (to make it easier to pull out the slider). The tab was punched on both front and back.
Stamps: Heartfelt Thanks, Watercolor Joy wheel, It's Your Birthday
Cardstock: Pretty in Pink, Certainly Celery, Whisper White, Basic Black
Ink: Pretty in Pink, Basic Black
Markers: Pretty in Pink, Certainly Celery
Punches: Word Window, 1/2 inch Circle, Round Tab, Ticket Corner
Accessories: Black Gingham Ribbon, Black Brads