Join the two ends together and stitch (I used my machine for this).
Turn the circle inside out so the ends are on the inside of the ring as shown.
Thread a needle and knot the end. Beginning at the seam you created, use a running stitch and stitch along the folded edge of the lace pulling tightly into a gather as you go.
Pull tightly into a gathered bunch and knot by tying the beginning and ending threads together tightly.
Flatten the circle and voila! A beautiful ruffled circle to attach to your next project.
I'm going to try a quick video tute on the paper roses, and if it works out, I will post a link here. Crossing fingers!