I made this several years ago at Christmas time. I'll try to describe it.
A Christmas elf sitting on the spool. Wind some knitting wool on the spool. Glue it at start of winding, wrap around and glue a tab at the end to hold it. Leave a little piece dangling down.
You need: a small wooden bead for the elf head, green chenille pipe cleaners, the bumpy kind, felt to make a pointed hat, a little fake fur (if you have some to glue on the hat). A small ribbon bow glued to the neck area. Take the pipe cleaners and bend so it looks like an elf, stick the bead head on top and glue. Bend him so he looks like he's sitting on the top of the spool with feet dangling. Make a loop to hang the finished spool/elf on a tree. You can also make a few dots on the bead for a face.
I hope you can get an idea of what I'm talking about!