Here is a small photo book, made from a slightly used, dime a dozen (well, I wish they were that cheap, but it's a good excuse to clean out those file cabinets!) file folder and some scrapbook paper.
The book measures 6.5" x 6.5", the pages 6" by 6". The left over folder bits can be made into tags, as shown, or inner pockets (which I chose not to do.) Each piece of 12 x 12 scrapbook paper can be cut in half or quarters.
The half pages I glued together on the side and bottom edge, and punched on the folded edge, to form the pockets.
Envelopes and cardstock form places to put photos, or they can be glued on the scrapbook paper directly.