We had a snowy morning so we made a winter project today.
I liked this idea from The Mailbox Dec/Jan 2010 issue: Glue lengths of colorful ribbon and yarn to a simple hat cutout. (The one I used was a pattern in the book.) Then attach a cotton ball (or pom pom) to the top of the hat. When the glue is dry, trim the ends of the ribbon and yarn so they are flush with the cutout.
These hats did turn out adorable!