Though today is Christmas and these projects were made for Christmas, you can either file this idea away for next year or adapt it for any upcoming holiday such as Valentine's Day or Mother's Day.
For this project, copy any picture you'd like onto a transparency. I have used pictures that are 7" around. Have your students color them with PERMANENT markers (water color markers will just rub off). Encourage them to not use the same color side-by-side. Find a spot with a light color (such as yellow) to write their name in a dark color. I then cut poster-board circles the same size. Then I lightly crinkle aluminum foil squares (about 8" square) and wrap those over the poster-board circles. I then glue the colored transparency right onto the aluminum wrapped poster-board. Trim any excess overhang.
Important note: If your markers do not color the transparency well, let them dry and go back over them later. The darker you color each segment, the more beautiful it will look up against the crinkled aluminum.
Some other ideas to do with this:
1) punch a hole in the top and tie a ribbon through it to hang it up.
2) make two and put them together so they can be double-sided.