Have you ever made ribbon headbands? It's a five-minute project that you should definitely try! Here are a couple that I've made recently, using clearance ribbon from Michael's:
You just loop two hair ties together, and sew the desired length of ribbon onto the rubberbands, folding the ends over twice so the raw edge is inside. That's it! Easy as pie and cute as a button... what more could you want in a project?