I recently discovered Quick Yo-Yo Makers at my local fabric stores. (JoAnn Fabrics has them in the quilting section.) They are simple, two-part templates; you simply put fabric between the two templates, handsew through the guide holes, remove the templates, pull on the thread, and voila! Instant yo-yo! This is simple enough that my eight year-old son, not a big sewer, can do it with a little coaching.
And maybe best of all, they have templates to make flowers and hearts. Here are a small and a large heart that I made yesterday. (The small ones are approximately the size of a quarter.)
They'll be cute on cards, or strung into garland, made into instant jewelry, or sewed onto any project. I'm going to try using some crinkled metallic gold fabric. Ross suggested making tiny dolls with them!
I stopped to take a quick photo of an icy puddle this morning. This is how it turned out after I played with it in Photoshop.