A piece of wire, and really fluffy woollen yarn.
Very bulky, very light yarn.
As It is Australia Day today I would like to say it was Aussie wool, but it is from New Zealand.
Add a bit of glitzy ribbon and stick some little bits of red and green on there and it is done.
A length of wire bent into a circle can be covered by a lot of different materials.
I have used assorted types of string from jute to cotton and nylon, fabric strips, and assorted yarns.
Other materials I have thought of are tinsel, and wide variety of fabric types … I have only used cottons and poly cottons … including velvet, silk and organza (or all three mixed).