make as flag or fireworks
see link for cardboard rocket
Metal Cut-Outs Craft - use a disposable old pie pan to make an impressive, shiny ornament.
All Free Christmas Crafts- Free Christmas Crafts for DIY Decorations, Gifts and More
Christmas Crafts for Kids - Enchanted Learning Software Stand alone star.
link to firework t-shirts
Homemade windsock. They use construction paper for the top... I think I would cut the top and bottom off of a two-liter bottle, THEN wrap it in the construction paper for a little extra stability.
Ribbon + Dancing = Tons of fun