I thought this was another One Lucky Day project but I can't find it on her blog. So I have no idea where I saw this, only that it was very cute and I had all the stuff on hand to make some. I also can't find photos of the five that I made, only the one I still have here. Ah, well. They all have good homes.
The one I saw online had a base circle of Warm-n-Natural batting but I used some off white upholstery fabric I had already out. I cut variously sized circles of vintage papers, tissue paper patterns, lace - whatever grabs you, pretty much. Don't make perfect circles, just cut by eye. Layer them however you like, largest to smallest, then sew enough to keep the layers together. I sewed in a random circular motion using black thread. You need two for each orny. My largest circle is about 3.5-4 inches across.
Then I cut about 10' of pearl cotton for the hanger and made knots all along it, just randomly. I glued the knotted ends of the hanger in between two sewn circles, using E6000. They sat under a heavy book all night, then I fluffed up the tissue paper a bit for some texture, glued either a button (or three) or an old glittery star to each side, and voila - a vintage, unbreakable ornament.