Grab two pages of newspapers (so you have a four-sheet stack). Cut them into thirds lengthwise, giving you three long strips.
On the end closest to you, lay the can on its side across the strip of newspaper. Leave about 1 inch hanging off the end of the can.
Roll the can along the newspaper until it's loosely wrapped all the way around. (Loose being key for easy removal of the can later.)
Fold the edges of the newspaper down over the can, and work your way around in a circle until all the edges are folded over firmly. They don’t have to be perfect; you can just smush the paper down with your fingers.
Flip the can over so the folded edges are now on the bottom. I like to press the can down on the folds to really crease the edges against the bottom of the can.