So, I've admitted on my family blog that I am addicted to craft blogs. Still true. Here is a great project that I found on Eddie Ross and Pearls, Handcuffs and Happy Hour also has a great step by step tutorial on it. My only note - when they say that you need like 80-something ornaments, believe them. I used about 50-60 and my wreath isn't that big. It looks big when you work on it on the table, but pick it up and look at it. It gives you a better idea of how it will really hang. Here is mine:
Notes for Next Time: I would use more ornaments and lots of different colors!
If you need an easy bow for it, Living With Lindsay has a great tutorial.