One of my favorite things to do at the office during the holidays is to make candycane reindeer. You should see the different kinds of reindeer that get created each season. Each is about as different as the person who made it.
Last year we had a dreadlock "rasti-reindeer", an all-seeing reindeer, a 32-point reindeer and many other variations. This year I made some instructions and will leave them out for people to see what's going on. I'm also trying to figure out how we can get some pictures of peoples' creations; maybe we can post them here or something.
I'm adding a clothespin version this year; when I get a prototype together I'll post it here.
Also, these make a great craft for a den of Cub Scouts!
(Yes, that's a view of my office desk in the background!)
[Update 12/14/2007] Here's a rouge's gallery of Reindeer!