I just did this for our trip last week. You can easily peel off the Mickey head shape from the paint chip. Then, I glued two together so you have green on both sides. Then I took them to Staples and had them laminated using the heavy laminating paper. They were really sturdy (think how thick your driver's license is) and it only cost $2 per page. I think I got about 8 to a page, since I left space around them to cut them out easily.
I didn't use them for luggage tags, but I tied one to our stroller and one to my purse. Two different Disers noticed them and said "hi" when we were there.