Firstly you're going to need a few things:
Some shaped cookie cutters - metal or plastic - I chose a reindeer and Santa himself :)
You'll also need some patterened paper and co-ordinating ribbon, scissors, a glue gun, adhesive (I used my ATG), pen/pencil and any embellishments you like.
Now you can embellish to your hearts content!
A variation on this idea is to put in a piece of acetate before putting on the backing paper. You can then fill your cookie cutter with sweets/candy/tiny toys before gifting it.