This is an idea I got from somebody's Blog - remind me whose, if you've seen it. I finished the edges and hid the seam lines on both sides with either ribbon or bias tape. That way when it's open, it still looks pretty! It worked great except I installed the hooks uncomfortably close to the ceiling, and made the loops too small. I broke into a sweat yesterday trying open it to a triangle. Maybe small magnets would work.
Anyhoo, I'm pretty pleased with the results, which is good, since I live here and all.