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Fill a shadow box with ornaments. Vinyl lettering or stickers in bottom corner. This would be cute filled with jingle bells too! I could use this idea for older ornaments that don't always get placed on the tree... but for a large amount of balls I prefer a wreath...
Lantern from Lowes for $1.50 - fill with christmas ornaments
I have some older satin balls I've used in an Italian glass apothecary. I have used a silk candle ring around the base, but I like this better...especially using lanterns, which are so in style right now.