These paper baubles are quick and easy to make - especially if you have a large circle punch! A sound investment, in my opinion. I used some paper from an old book, and some metallic gold paper.
I may have been a bit lazy with the gluing on this one - I should probably touch that up! If you want a tutorial to make your own, head over to the Guardian (though I'm not sure I could cut in to a gorgeous children's picture book!)