There's a tool that is used to change ribbon stock into binding as you sew...can't recall the official name. Its a piece of metal that you feed the straight ribbon into one end, so it has edges to keep the ribbon straight, and then the metal is bent such that it folds the edges of the ribbon over creating the binding...kind of like a U channel with the two edges folded inwards. (I can picture it in my mind but I'm not sure my words do it justice)
The tool is used to either press or iron the binding coming out or it can be used in conjunction with the sewing operation and it feeds the folded ribbon, or binding, out and into place to be sewed.
I'm pretty sure I've seen this used in quilting...the wife is quilting crazy but does not recall thsi tool. Anyone know what its called or where to get one?