I'll be posting small ornament and gift ideas after Thanksgiving, but I found this pretty crocheted afghan that might take a bit longer to work up.
Home for the Holidays Afghan by Lion Brand Yarn
In case you need the pattern for this granny square afghan, it is http://www.lionbrand.com/patterns/90010AD.html?noImages=
This struck me as being very festive.
Or maybe you would like to deck Santa helpers in Christmas cheer.
Santa Claus hat
Santa Claus mittens
Santa Claus scarf