Effect

A pack of cards through which two holes have been punched and a ribbon are given for examination. 

A random card is selected, marked, and replaced in the pack. 

The cards are then shuffled and the ribbon is threaded through the two holes and tied around the pack. 

The ends of the ribbon are held by a spectator and a borrowed handkerchief is placed over the pack. 

You talk about how Houdini could escape from anything and how he always claimed a magical task could be performed using this deck. 

The deck is then dropped from under the handkerchief with the spectator still holding the ends of the ribbon and magically the selected card has "escaped" from the ribbon! 

A fantastic effect!