flower bows from VHS tape, make bottle gift bags out of a shirt sleeve, and cinnamon ornament gift tags? All three of those, plus many more are mentioned in my most recent post on Northern Cheapskate, Ideas to Green Up Your Holiday Wrapping.
Why wait? Go check it out!
I didn't mention it in the post, but also remember you can make bows out of magazines with my post on Save Green Being Green last week.