These are suspension cards. The punched out circle is "suspended" and spins around showing two different images.
When I read the sentiment that I used ("if nothing ever changed there would be no butterflies.-unknown") and thought of a suspension card, I came up with this idea. I thought it was appropriate, because the card is changing (while you spin it) to having a butterfly to no butterfly flying through the bold flowers.
I used all six of the new in colors on the two cards (three on each), along with the Basic Black and Whisper White paper. The flower and the butterfly are from the Pretty Amazing stamp set that is now on the dormant list, but still available and the sentiment is from Flight of the Butterfly stamp set in the current catalog.
For a tutorial on how to make a suspension card visit Splitcoast Stamper's: