Two years ago at our first Kids Christmas Party one of the crafts was capturing our little ones' handprints on an ornament:
Those of us with two kids were able to do one hand of each kiddo on the same glass ball ornament. One red, the other green. Then we wrote their names underneath the appropriate handprint and the date at the bottom with red and green Sharpie pens.
That year we also had a thumbprint station. I had a stack of small white tags and a display of ideas. The kids could make gift tags or ornaments using assorted colored stamp pads and their chubby little fingers. :-)