This is a super quick, but really cute style, and you can adapt it to any holiday by changing the ribbon. I just love it on Christmas because it ends up looking like Emma's a little present. :)
Anyway, just take three small sections at the top of the head (I do it right at the top, and as you can see from the picture, I pull the center one into the two side sections, only because I don't like it when the center piece of hair is flopped off to one side.) Then add ribbons by tying the sections onto the rubberband instead of the actual ponytail. (This helps them stay in place better.) Curl up the ribbon with some scissors, and you're all set!