Before I get to the end to add to your quilt, here's an optional label. I almost did one like this for my Hearts and Feathers quilt, but the corner label is a little easier.
Seam the piece together.
Pin it to your unfinished quilt. Then, add your binding! I did a less than stellar job on my binding, but I was just trying to get a quick tutorial done :) You could always blind stitch the "pockets" of these labels down. i didn't on my mini, because I didn't see the need. I probably would on a bed quilt. You wouldn't want to get your foot caught! There is no exact size for these. Just make them as big as needed for the information you want on your label. Hope you like it!