I have used this to communicate with parents how they can assist their child in their fluency practice. I find my classroom parents want to help their child become a fluent reader (and less of a robot), but don't know how so I created this folder for each of my students. My classroom parents also appreciate the "I can statements" for fluency because they can better understand reading fluency.
It is amazing how creating these folders from large construction paper (and laminating them so they last the whole school year) provide my students with a sense of pride. They are excited to get their new passages and love to share with me how well they did at their practice the night before. The improvement in my students' minute reads from Monday to Friday is amazing for the students to see in the number of words read on their Progress Tracking Paper (you can also find on my TPT store).
Plus, their parents can see the improvement at home as well.
These fit well inside our school's take home folders which are a plastic envelope from Really Good Stuff.
I use a hole-punch and brass fastener to keep the passage inside their laminated folder, but you could just as easily use folders purchased at Target or Walmart during Back To School Season. I contemplated using folders with fasteners so they could keep all their past passage inside the folder to read over and over again.