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Joan of Nini Makes shares a downloadable pattern and tutorial for putting together these sweet Cones of Joy ornaments.
She writes:

I was recently playing with some cut out heart shapes and realized they would make a nice Victorian style cone ornament. I made some up out of fabric and have loved stitching these little heart cones over the past week; I think the heart sides of these give them a Scandinavian look.

She adds that she also made the same cones out of cardstock instead of fabric, so there are many options for whipping some of these cute cones for the holidays!