The Jean Greenhowe stuff can be made with really cheap yarn - I made a load of them as little Christmas presents one year using Stylecraft yarn (you know, the stuff that's about £1.50 per ball!) and they went down really well.
In fact I just got all my books out and they are in fact designed for Stylecraft yarn!!
Really quick and easy to make too - I could knock up a toy or two decorations in an evening, no probs.