Hi!
This is a difficult one...
The verb is in descriptive use trying to express that you make the story of (your) life piece by piece, small events that eventually become the story. (kutoa=tejer is the verb used here) The same way as you knit a sweater and it takes its form gradually.
Directly in English: Life is like knitting a story the beginning of which we don't remember... What could be used instead of knitting to make it more sensible? Something that means to make (but not invent) and could fit in here, or perhaps just to tell.
If you stick to knitting, could you say like this?
la vida es como tejer un cuento
la vida es como una tejedura de cuento
la vida es una tejedura, un cuento
(With this I mean that the object is 'knitting' but I don't know if it makes any difference.)
And now that I read all the messages, "entrelazar" sounds very good, we even use the equivalent in Finnish with stories or plots.
How about "la vida es entrelazandose un cuento"?
I think that would be the closest to the original form (surely some mistake in my spanish grammar
) If it sounds odd... you are on the right track anyway.