To make this vase, first cut the bottle into half-length wise.
Make straight and even spaced cuts around the bottle.
Fold all the strips horizontal to the ground
Start with one strip, fold and crease it above the next one and below the next two.
Now grab the one next to the folded one, and fold it above the next two and below the next one.
Repeat the two steps alternatively until all strips are folded completely.
Detailed instructions are available on Wikihow here.
I do not want to throw away the other half of the bottle. I have cut thin straight and even spaced strips. Placed it inside the previous one.