Ijust finished this little tree skirt for my D's tree. She uses my old artificial tree.....a 4 ft., so she doesnt need a full size skirt. The pattern is VERY simple....find it here. As you can see, I didnt embellish it with the ribbon but its not necessary, since I used more than one color. A tip: If you decide to do a stripe instead of a solid color, carry the colors up the side instead of ending them off. Then just sc along the edge to cover them. MUCH easier :)
ETA- 12/12/08: I took a photo of the skirt underneath my D's new, full size tree I think it looks great!
And if you need a festive cape, this is PERFECT! I put it around my shoulders and it works just great. So it has a dual purpose. I used the Lion "Thick and Quick" Chenille.....has a velvet feel to it that is just right for the holidays. But be warned....this skirt only measures 17" and it used 4 skeins. One each of the red and green and 2 of the cream. So if you want to make a larger one, its going to cost you :) Unless you can find a sale....or just substitute 2 strands of worsted.
Note: My computer is down...I am using a friends to post this. So I might not be around as much till the problem is resolved. But I will try to post again soon. Till then....