This is what it looks like now that I've finished playing with it.
I first removed the 3 ring binder clip and turned the brads around so that the flat side of the brads were on the inside of the book and the points were on the outside of the book. After flattening them out I glued them with a strong glue to the books spine. I then took a piece of sticky back canvas and did the techniques we learned to grunge the canvas up, did some light stamping and put it on the spine of the book over lapping the canvas on the front and back.
I then punched a hole in the top center of the spine and attached some charms and the key to hang. I am very pleased with the way it now looks.