I have been supervising present wrapping.  The gift tags used are homemade.  These can vary from a centralised picture cut out from old Christmas cards with pinking shears through to cut, stamped and coloured (pen, pencil or water colour).  When I first heard about pinking shears I did wonder if they turned the edges of things pink but once I’d seen them in action, I discovered they make an edge zigzagged.  This left me to wonder why they are called pinking shears.  A quick check on woofapedia was of little help, there are two theories, one is that they are named after the plant pink which has frilly flowers, the other is that pink is an old term for putting holes in things by piercing or stabbing, so I suppose it is down to personal preference which idea you go with.