Directions - make the rosette from the tutorial here. Instead of making two rosettes with each color ribbon, make one rosette using both colors (refer to picture below).
After you have the rosette made, place the button in the center of the rosette. Glue the back of the button and rosette to a pin like the picture below. Done.
*I used E6000 Glue for the pin. You can purchase this at most craft stores.
The pin back you can find at most craft and bead stores as well.