I found this template to make your own party hats so the kids and I gave it a whirl for our New Year Day brunch. I traced the pattern on to construction paper and cut the hats out. I tried both glue and tape to keep the hats together and glue worked far better. Sarah used glitter glue to decorate the hats and we topped them by gluing on some pom poms (Ella managed to get one off before it dried). We forgot to get elastic to actually wear them so they just made a cute display for the party!
Super cute, super fun, and super easy!
EDITED (JAN 22, 2010): I have fixed the link to the hat template! Sorry about that!