I'm sure I saw this on Pinterest, but I apparently didn't pin it because I can find it on any of my boards! Good thing I remembered how to make it!
To make this Santa wreath you will need red and white feather boas (I had to use 3 6ft white boas and 2 6 ft red boas; go figure), wooden letters, black and gold/yellow felt, and a hot flue gun. Oh, and a wreath form.
Start by wrapping the wreath form with the boas, half white and half red. I cut the black felt into 2 inch strips. It took three strips to make it all the way around the wreath. Hot glue the ends of the strips so that it fits snugly around the wreath. For the buckle, cut the yellow felt into a 2 1/2 inch square, a 2 inch black square, and a 1/2x1 1/2 inch rectangle of yellow. Hot glue pieces together and glue to belt.
Paint your wooden letters; I choose silver. I hot glued these on. You may find it necessary to secure them with thread that is the same color as your letters. Hang it with some ribbon and you're done!