I'm not going to try and claim this is the best paper aeroplane ever or that its the fastest but it's a good plane my friend showed me!
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*Purple guy*

Step 1: Fold I

Fold one corner over so it lines up, just look at the picture :P

Step 2: Fold II

fold it over again so it makes a triangle on top of a rectangle kinda shape?

Step 3: Fold III

Fold this new shape in half and then unfold again. Then fold the top corners inwards onto the centre line.

Step 4: Fold IV

Take hold of one side and fold it on top of the other side.

Step 5: Fold V

Do the usual grip part of the plane but so the wings and the grip meet up like in the picture!

Step 6: Finished!

Just throw it really fast either straight ahead or pointing upwards for maximum flight length!
Please rate and comment!
*Purple Guy*

Note: This plane recently won me a competition at school, In a technology lesson mind you...