Use old-fashioned wooden clothes-pins as the base (the unhinged kind that’s all in one piece). "Dress" the clothes-pin body (see the round head? the two legs?) with pieces of felt... Make a small felt circle (2-3 inches across) with a small hole in the center - slip the circle over the figure’s smooth "head" and glue it around her "waist", folding it in half front-to-back and gluing it together at the sides. 

Glue sequins spaced a little apart around the bottom of this skirt. Another piece of felt will be slipped over her head and glued around her neck - this will make her arms and her dress top... It will be folded over (along the line of her "arms"), so make it with little rectangles that stick out from a circle or square that’s just big enough to drape down over the waist of her skirt (i.e., about an inch); glue the folded arm pieces together to make them stick out from the body (and of course, glue a sequin on the front and the back of her "cuffs" at the ends of her arms). Make a small tiara from a piece to go around the head - it will have several triangular points on it (like a jester’s hat); glue the straight bottom around her head leaving a bit of "face" area showing; on the end of each point, glue a sequin. Lastly, glue a sequin to the front of each "toe" (if you like, after painting some toe-shoes onto the ballerina’s feet).

Truly, these little sugarplum fairies are elegant ornaments! - and easy for children to make. (I made them for all my relatives when I was little.) A set of them for one tree could be made with different-colored sequins for each (that’s what I did, with white felt garments) - and/or different-colored felt tutus.