OK, I've made ornaments out of the advertising CDs in the past. use a label maker program to cover the advertising or construction paper. Put thier picture on the silver side.

How about something with a handprint? A chinete paperplate, 2 handprints to be antlers, and a footprint to be the head/face of the reindeer. Enlist help, put down a disposable table cloth and have a bucket of warm water near by.

The school should have a projector that enlarges things on the wall, you could put the kids in front and put butcher paper on the wall and draw their silhoutte and then mount on red or green paper. (This also works well for Mother's Day)

Craft foam, trace their hands, have helpers cut their hand prints out, you'll need several, and make a wreath out of their hand prints. The size depends on how many hands you cut. You could use paper to keep the cost down and if the school has a laminator, laminate each wreath.

Do you get Oriental Trading catalog? They have lots of 'kits' and just about any thing you see, you can put together on your own!

the family fun magazine and main web page has lots of craft ideas. There is probably something in there you could adapt. I think they had a hand print and put the fingers down to make legs and the thumb was the nose. put a ribbon thru the top.

Hope these help!