We have a really really nice tree this year (we always get a live tree, with varied success). It's little (5 '?) and very very full and smells wonderful and the very nice guy at the tree place chopped off several of the bottom branches for me when I told him I planned to do it at home, saving me a lot of trouble, and those have become wreaths and various decorations (like "bouquets" in a victorian red and gold cut glass sugar and creamer set I have, etc.)
Anyway, the tree is so nice all by itself that we haven't decorated it yet.
I plan to make cookie decorations today with the sozlet, from a recipe in the NYT by Nigella Lawson which includes a generous amount of pepper -- perfectly edible but not palatable for the kiddies. We have lots of delicate glass ornaments that we won't be putting up this year because she's a little monkey and I just don't want to have to worry about it. Will put up some of the non-breakables above her reach, though, and then just let her mess around with the cookie ornaments. (Take them off, put them back, etc.)