The Collaborative International Dictionary of English v.0.48:

crepe paper \crepe` pa"per\ (kr[=a]p` p[=a]"p[~e]r)
   Paper with a finely crinkle texture, usually sold in rolls of
   2-3 inches width; crepe paper; -- it is usually colored
   brightly and used for decoration. Same as crepe[4].
   [PJC] Crepes Suzette
   Crepe Suzette

WordNet (r) 3.0 (2006):

crepe paper
    n 1: paper with a crinkled texture; usually colored and used for
         decorations [syn: crepe, crepe paper]