This is a craft I have done every single year for as long as I can remember. I trace a stocking template onto construction paper, cut it out, add some fabric to the heel, and write the child's name on the top.
This year I did the first letter of the name with glue and glitter, then wrote the rest of the name with a marker. Today the kids decorated them with random art supplies. I put out some beads and pom poms and buttons. I also put out some glitter glue I had just picked up from the dollar store.
The kids decorated them any way they wanted to. I told them that the fastest way would be to put drops of glue on their stocking, then add the beads (instead of gluing the beads one at a time).
After gluing the beads, they used the glitter glue. Not messy, but I had to watch them so they didn't squirt out the entire tube in one spot! When they are dry (which might take a couple days) I will hang them up in the classroom.
In the past, I have had the kids decorate both sides (either by waiting until one side is dry to do the other, or by doing two stockings and gluing them back-to-back) and hung them from the ceiling. It was a wonderful decoration for our room.