I use it to make a wrap for sloping side glass tumblers for etching but you can use it to create any kind of wrap for things like cup cakes as well.
You will need to take some measurements of the object you want to wrap, so for a cake wrap you need the diameter of the top, the diameter of the bottom and the height. You can also give a wrapper height if you want the wrapper taller than the cake and the overlap which is how much the ends will overlap. I strongly recommend you measure in mm as the page rounds values so mm will give you a MUCH better result than inches, you do not enter the units into the page, just the numbers

You enter those measurements into the boxes on the page and when you hit submit you will get a file save dialogue window to save the SVG.
The SVG has a blank rectangular wrapper and a curve, you decorate the blank wrapper as required and then use Path->Path Effect Editor to apply a bend effect using the supplied curve and it will turn the rectangle into a wrapper to fit the cake perfectly. Of course you can also use it to create a wrapper mask for glass tumblers if you want to etch them

The SVG has instructions in it telling you how to complete the wrapper, it is really very easy to do

http://www.bratpack.org.uk/cake-wrap-3.php