Hello Wendy! Here is a tutorial (and lots of links to other fun butterfly projects) on those little butterflies. I used Monopoly money for the pattern and envelopes. I so hope your daughter has as much fun as I did!
Paperma made some wonderful things with her butterfly punch.
Crafter's Toy Box
Amazon has a couple of sizes. And the Quilling Store.
Anna Griffin Large BUTTERFLY Image Paper Punch.
This looks like a smaller version.
Looks like Martha Stewart might have a butterfly punch (I want one of those ;) (I did't find it on MS site, but a few on eBay and here.
Butterfly Chandelier at Fancy Schmancy.
Weekend Creative : February #2 : punch collage with Ali Edwards and LollyChops has a nice tutorial.
Butterfly pattern and remember this amazing Butterfly Alphabet.
Beautiful Butterfly custom (with template!) at FamilyFun. I don't think it has to be Halloween to have such a wonderful set of wings to wear! Butterfly Mobile (think smaller with punch ;)
One last thing. I made this paper wedding cake years ago. Added these little butterflies as the "wedding cake topper". Here is one you could print and cut out without a punch.
Click on image for the large version. Save this to your desktop and print this, you might need to reduce size for smaller butterfly: