I bought the tulle and the ribbon from theknot.com.
My mom came up with the idea of glueing the tiny shell onto the bow.
I got the shells from a store in Navarre on Highway 98 called Sea Shell City.
There's chocolates inside that were in the shape of shells and sea horses.
Click on picture for larger image.

Links to beach themed favors online:
The Island Shop
theknot.com
Beau Coup Elegant Wedding Favors
TIP:
Use Google.com and search for "beach themed favors." I found a ton of useful information.