If you are thinking of Valentine's Day and want a simple ornament or gift tag, you can always make one of these hearts; follow the last link to the tutorial. If you do make one, please feel free to join flickr felt creations group and add your photo; I would love to see them.
This would be real cute with tatted flowers, too, instead of embroidered ones. I may have to try that. If you make a tatted version, join "the mad tatter" group on flicker and add tatting ones there. If you have no idea what tatting is, check out this site the 25 motif tatting challenge.