A piece of paper is folded and punched as shown below in the question figures. From the given answer figures, indicate how it will appear when opened.

Let's retrace the unfolding steps:
The square paper is folded diagonally to form a triangle, and folded again to form a smaller triangle.

Punches are made near the edges of this folded triangle.

Unfolding it once creates a symmetrical reflection across the fold line.

Fully unfolding it back to the square shape repeats these punched patterns symmetrically in all four quadrants.

Observing the placement of the holes relative to the center and outer boundaries, the configuration matches Option A perfectly.