Silk tie scraps would make beautiful and elegant tree ornaments.  Use your favorite pattern or try making a small paper-pieced design, quilted with a silk backing and bound with more silk.  Make 1/2" bias tape from red and green ties (or your favorite colors), weave a 3 1/2" square (upside down), secure with a 3 1/2" square of fusible interfacing, and make a little "pillow" ornament from the resulting fabric.