One Christmas tradition I enjoy is making an ornament, usually with the help of my children (is it a tradition if this is only the second time I've done it?). This years version was inspired by an idea I saw here, but I got creative in using mostly supplies that I already had on hand.
-small round wood discs (I found mine at Michaels in the wood section)
-hot glue gun
-ribbon, bells, photos, graphics, etc (whatever you want to use for ornamentation)
Paint the wood discs and allow to dry (both sides). Cut slightly smaller circles out of decorative scrapbook paper, and mod podge the paper to the painted discs. Once the glue was dry I threaded white ribbon through a shiny bell, tied a bow and used a hot glue gun to attach the ribbon to the disc. The last step is to use the glue gun again to attach a string to the back for hanging on the tree.
The possibilities for the focal part of the ornament itself are pretty endless. You can use photos, old Christmas cards, berries, flowers, or whatever strikes your fancy. I made a version for my piano students using a small picture of a piano I printed from the computer (in the photo above).