Cut the toilet paper tubes in half. The rolls will bend a little bit in the center while you're cutting, and you'll have to bend them back.
Each piece of toilet paper tube is about 2" tall and 6" in diameter. Cut strips of felt about 1 3/4" and then about 6 1/4" for overlap. (Measure your toilet paper roll, because I doubt they're all the exact same size).
Apply hot glue to the red felt and wrap around the toilet paper roll. Secure the end with hot glue. Repeat with the remaining felt and rolls.
Cut a length of black glitter ribbon to fit if it doesn't already. I ended up having to cut mine in half with a craft knife and ruler because it was a little too wide.
Add hot glue to the ribbon and wrap it around "Santa's middle." Secure it on the other side, attaching the ribbon to itself.
Use a craft knife and ruler to cut a small square of gold foam or paper.
Cut a small square of black ribbon and attach it to the center of the gold square with hot glue.
Press the gold square down onto the black ribbon using hot glue. Repeat with the remaining rolls.
Cut strips of fur ribbon or faux fur to fit both the top and bottom of your napkin rings.
Use hot glue to adhere the fur to both the top and the bottom. Hold down until cool. Repeat with the remaining holders to finish.