First, get your circle nestabilities:Select the middle three sizes: Run the nestabilities and cardstock through your Stampin Up Big Shot (it's not too late to get your own Big Shot!)
And use the tab punch (another great Stampin Up tool).
Cut some silver stretchy cord about 2 1/2 inches short and apply it to either side of your tab: You'll want to use a nice strong adhesive (like Stampin Up's Sticky Strip) for the tab.
Stamp a cute Holiday image on the smallest circle and put all of your layers together.
We made these ornaments using Always Artichoke, Ski Slope designer paper, and the Mary, Joseph, Baby Jesus stamp from Season of Grace at my open house last week. Turned out great!