The dollar store had sets of plastic snowflakes, just add glue & glitter & you wind up with this:
Joanns had a sale on "bridal" fabric, I picked up 3 yards of a shimmery satin and the same amount of a glittery tulle. It's just draped it around the bottom of the tree, no need to sew, hem, iron or whatnot.
For the Star, I folded a $0.99 piece of 12"x12" glitter paper to make it 3D ish. I actually needed to cut the paper in half and print each half of the star separately since my printer wouldn't take the full 12x12 sheet. You could probably hand draw a template to fit on one sheet.
Cut around the edges, use a bone folder to crease the lines (create "mountain fold" on point lines, "valley folds" on lines between points):
The additional decorations on the tree are some chocolates that had a gold wrapper (tie on ribbon and hang), bows made of glittery ribbon (always 50% off before the holidays) and white curly willow type sticks I found in the floral decor section at Ikea.
It took some time, but not much $$ to create my 2012 Champagne Glitter Christmas Tree :)