Cut around the outside edges, including the flap for the glue.
Fold along the dashed lines as shown in the figure.
Put glue on the flap labeled 'glue' and paste it on the back side of panel (triangle) labeled 1 so that the model closes to form a trihedral (a figure having three sides).
For a really shiny looking reflector you need to cover the inside of the model with aluminum foil. You can do this by making a similar trihedral with aluminum foil and glue it gently with the paper, before pasting the flap labeled glue to the back side of the triangular panel 1.
Note for teachers: You may want to shine a laser beam from your laser pointer (available for less than $10 in many stores) onto the shiny aluminum surface inside the model and demonstrate how this beam returns back.