I wouldn't. Use a 3V to 5VDC 1A plug-in cell phone charger instead. You probably have several old ones in your closet.
For a simple string of lights that likely draw less than 1/2A of current (you do have a multimeter capable of measuring the current that the lights draw from the battery pack, don't you?), I would just use a power resistor in series with the string. Say the charger puts out 5V. You want 3V at the string, so 2V is dropped across the resistor. If the string requires, say 0.4A, then R = E/I = 2/0.4 = 5Ω. The power dissipated in the resistor is P = IE = 0.4*2 = 0.8W, so I would get a 5Ω 2W resistor...