Here is the wreath that I made to replace the umbrella one I made for the summer:

It was surprisingly easy to make, but slightly time-consuming. I bought a Styrofoam wreath, some grey yarn, turquoise yarn, and 1 sheet of purple felt. First I cut the felt into equal-sized squares. I made them somewhat small since I only had the one sheet; if I make this again, I might buy a second sheet and make the squares bigger. Then it took about 2 hours to wrap the grey yarn around the Styrofoam wreath, being careful to wrap it tightly and so that none of the white showed through. I arranged and pinned the felt squares to the wreath after that, and then I wound the blue yarn over them, again being sure the yarn was wound very tightly. I removed the pins, looped the ribbon to hang the wreath under some of the grey yarn at the back of the wreath, and it was finished!
If you want a simpler look, you could always forgo the second color of yarn and simply hot glue the felt pieces to the wreath. You could also add some flowers or your street number to jazz it up some more. I prefer this way because it will be easier to re-use the wreath.

It was surprisingly easy to make, but slightly time-consuming. I bought a Styrofoam wreath, some grey yarn, turquoise yarn, and 1 sheet of purple felt. First I cut the felt into equal-sized squares. I made them somewhat small since I only had the one sheet; if I make this again, I might buy a second sheet and make the squares bigger. Then it took about 2 hours to wrap the grey yarn around the Styrofoam wreath, being careful to wrap it tightly and so that none of the white showed through. I arranged and pinned the felt squares to the wreath after that, and then I wound the blue yarn over them, again being sure the yarn was wound very tightly. I removed the pins, looped the ribbon to hang the wreath under some of the grey yarn at the back of the wreath, and it was finished!
If you want a simpler look, you could always forgo the second color of yarn and simply hot glue the felt pieces to the wreath. You could also add some flowers or your street number to jazz it up some more. I prefer this way because it will be easier to re-use the wreath.