Paper gems (+ templates) --- This project is quite fiddly so more aimed at grown-ups or older kids. "You can use these paper gems as hanging decorations (for your Christmas tree) or you can incorporate them into a mobile or garland.
I spotted these paper diamonds over at MiniEco and will be giving them a try this weekend. How cool are they in a rainbow of colors? Pop over to Mini-eco for the printable template and complete step-by-step instructions.