My favorite faveskies in all the world is Shakespeare's A Midsummer Night's Dream. Last year for my cousin Brit's special day, I made some Titania-inspired fairy princess tiaras (technically, Titania is a queen, but you get the point). In honor of spring, for which I am pining, here are some pics. They make a great party favor and are fun for dress-up, one of my other favorite things.
If you would like to make one, simply use silk or fabric flowers, some tulle, iridescent fabric or party paper, some cheap old dollar store headbands (the wider the better), and glue gun yourself silly. It doesn't matter if they look over-the-top; you are going for Elizabethan fairy queen, after all.
Enjoy the fairy tale silliness, and beware of love potions if you find yourself traipsing around the woods alone in fairy country!