Simple, inexpensive and beautiful!
Wrap a 4" Styrofoam ball in a 14" square piece of festive material. Secure the top with a rubber band. Run a 1-1/2 yard piece of ribbon around the ball and through both sides of the rubber band. Match the ends of the ribbon evenly and tie them into a knot to hang the ball. With a 14" piece of ribbon, secure a decorative piece of holly and cover the rubber band, finish it off by tying a bow.