Trace a round object such as a bottle cap onto a piece of craft foam. Use an object that is a little bit larger than your cork so that it will form a base for your candle. If you don't have an object of the proper size to trace, just freehand the circle. Then, cut the circle out and glue the cork on top of the it, centered.
Wrap a piece of artificial pine garland around the bottom of the cork. Trim as necessary and twist the ends together to form a small "wreath" circle to place at the bottom of the cork.
Bend a small piece of yellow pipe cleaner in half to form the candle's flame. Cut your "flame" away from the rest of the pipe cleaner. Push the sharp ends of the bent pipe cleaner into the top of the cork to secure it in place.
Tie a piece of red ribbon into a tiny bow. Glue the bow to the bottom of the cork ornament above the pine wreath.
Cut a small piece of green floral wire to use as a hanger for your ornament. Push each end of wire into the top backside of the cork ornament.