Made my first 2012 Christmas craft this weekend - pop tab bracelets with red and green ribbons. They were a little tricky to start, but easy to finish once we got going. I found the instructions at http://www.ehow.com/how_5427863_make-bracelets-soda-can-tabs.html .
Once the bracelets were just about the right size, we added a little bit of elastic to avoid trying to tie them to our wrists time and time again. Seems to work pretty well!