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DIY small sock snowmen. Kid's craft. - I have a ton of too-small baby socks running around here now... these might be cute to make and give away! :)
Paper plate snowman. So many options - could do the face with paint, tissue paper, construction paper, etc. Could also use different size paper plates to make the whole body.
Lacing/Sewing Christmas stocking craft. Would it be too hard for the 5s to sew two stockings together, so they could actually put something (like a Christmas card from the teacher) in their finished stockings? -tkz