I found a cute gift bag & a frame from the Dollar Store.
Then I got an initial ornament for .50 at Hobby Lobby for each of my kids.
First, paint your frame the color you want.
Take your gift bag & trace the paper that came in the frame onto it.
Mine made four & I still had a whole backside of the bag to use for something else, it's cheap scrapbook paper! Next, cut them out & glue the paper onto the cardboard part of the frame.
Place it back into the frame. I didn't put the glass back in the frame for this.
I then hot glued the initials onto the paper & began decorating it how I wanted.
I just put some ribbon through the frame to hang on my tree.
I added ribbon to the initial ornament & to the outside of the frame on this one.
On my boy's initial I added glitter & I had a cute snowman gift tag (from the dollar store) & glued it on the side.
I did each of my kids a little different...but they turned out cute!