I made a ton of garland for my wedding, and the most time intensive to make ended up being these little tassel garlands, but I loved them! I actually put them up for Christmas too. They take a while to make, but they're relatively easy to put together.
What you'll need:
Yarn (or twine, to hang the tassels from)
Cut a pile of strands for each tassel. I think I used about 10-12 strips for each tassel, appx. 2 ft long (though you can make them longer or shorter depending on how long you want your tassels). While this is easy peasy, it takes a while if you want a lot of tassels. Enlist netflix or hulu to help pass the time.
Here's the more complicated part. Set aside 1 strip out of the bundle. Twist the center and fold in half, pinching right below the loop so it doesn't come undone. Take one of the strips you left out and wrap it around and around the twisted loop part to secure it and then tie it off at the base of the loop to finish it off. It's not completely necessary to wrap the loop, but I found that it kept the twist from getting loose and made it sturdier.
Now just take your yarn and tie on each tassel. Yarn tends to stretch when it's hung with the tassels, so make sure to keep that in mind when figuring out how long to make your yarn. My tassel garland was various shades of white, but they'd be super cute to make in fun bright colors or pastels for a party! I also think it'd be fun to include a couple strands of metallic ribbon for a little bit of glitz...