Cut small pieces of fancy fabrics and poke the edges into a styrofoam ball using a butterknife. Have some Fray Check or other sealer handy in case of ravelling. Create a nice bow from wire-edged ribbon and hot-glue to the top, along with a hanging loop and little pieces of greenery and berries. Be careful not to poke the fabric in too far, since you don't want to cut the ball in half!