Can I use ribbon in place of bias tape for elastic casi Sewing Machines Parts and Sales in Los Angeles

I’m using various scrap, leftover and inherited fabric right now and I’m going to be making the toddler ballet-top dress from the book One-Yard Wonders. Remarkably, since the fabric is likely from the early 80s, I have ribbon that coordinates perfectly and would look charming at the waist, but that calls for elastic casing…it’s 5/8th ribbon. I think it would work, since it is larger than that elastic (1/2 inch) to be passed, but it’s been a loooooong time since I made clothes or worked with bias tape and I’m not sure. The only other option would be to made bias tape from more of the matching fabric, and that would not look half as nice.