---"reindeer" and "angels" made from your little one's hand prints (brown for antlers, white for wings...construction paper or popsicle sticks for bodies)
---popcorn and cranberry garland (stale popcorn is easier to string
---evergreen branches tied with ribbon or yarn (often free or cheap at tree shops)
---white, green, red, gold, or silver candles grouped in bowls or on platters
---slice lemons and other citrus fruits into rounds and let them dry (looks great on the tree or hanging in a window where the sun can shine through, like stained glass)
---ice shapes if you have cold weather...pour water into molds and freeze. Add a rope loop before freezing and you can hang your ice stars. Or place a small cup in the water to hold a candle later so you have an ice luminario.
---regular luminarias
http://en.wikipedia.org/wiki/Luminaria (reuse the bags later)
---paper snowflakes cut from unk mail/holiday catalogs
---a bowl of pomegranates and smooth black stones or a bowl of pinecones
---walnuts or other hard shelled nuts painted gold and hung on the tress (you can use gold foil instead and eat the nuts after the holidays)
---a few cinnamon sticks tied with ribbon (again, can be untied and used after the holidays are over)
---papermache ornaments made from junk mail/catalogs