Knitting ornament! Pick a thinner yarn. Use an old Christmas ornament/ball. Hotglue & press yarn while wrapping ball in yarn in a haphazard pattern. Make knitting needles out of toothpicks topped with small wooden beads. Maybe even embellish knitting needles with sparkly beads or rhinestones. Stick knitting needles through yarn at an angle. Very cute knitting ornament!
I have an obsession with cupcakes. Last year when I was single, my tiny pink christmas tree had cupcake ornaments... which get pretty pricey. Cheaper alternative (especially for large trees), foam balls, glitter, paint, a TINY ornament and a cupcake wrapper. it sounds like a lot of supplies, but it's not. and it will make quite a few.