Are there a bunch of you that are friends? The reason that I ask is that we once made an envelope album with little notes from everyone for a friend who had moved away. I wish I would have taken a picture!
Anyway, I got a bunch of colorful #10 envelopes and bound them with a bind-it-all on one side. Along the opposite side, each envelope was sliced open and using a circle punch, I made an indentation on one side of each envelope. On each envelope page, I put a picture of the person whose note was to be inside. The notes were written on pieces of card stock(approximately 8" x 3.5-->1/3 of letter paper, but a little shy of the 8.5" width to account for the binding on the other margin) shaped like a long tag(with a grommet and ribbon tied so that the tag could be pulled out). Each person wrote on their tag and could also decorate the area on the envelope that had their picture. Although, you could also already put their name along with their pic using digi stuff and save that step.
Sorry if this is hard to picture....