M made this a few years back (perhaps the same year that I did the Santa's Workshop) and I think he is so cute. His eye got lost last year and I need to replace it - perhaps I'll do it this year.
He's made from a tongue depressor stick, some movable eyes, some ribbon and a piece of felt cut for his hat. The rest of the decoration is just paint. This is a great project for kids. Tip: Spray paint the stick before decorating it.