While I've been to busy making Christmas presents to actually do any of these, I've found some awesome holiday crafts in my browsing.
I really love these grocery bag pom poms (complete with tutorial and photos) from Design Sponge:

As always, Martha Stewart's page is featuring some great ideas for holiday treats - her 1 dough, 4 cookies article allows for a variety of Christmas cookies without making yourself crazy.
Another fun holiday craft is the cute paper santa from _shakty_. Print the layout from the download, cut the pattern out, and fold! This may take some more meticulous fold work, but it sure turns out cute:
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