In the course of my stamping all the greeting cards that I make, I end up with lots of scraps of high quality white card stock. I save those, and after about two years I have enough scraps to "pulverize" (in a blender, with lots of water), back to paper pulp. The pulp is then used in molds to create lovely molded paper ornaments. I get my molds from House on the Hill (Elmhurst, IL -- they sell reproduction woodcut molds, primarily for speciality cookie baking and marzipan), and Arnold Grummer (his are clay, made expressly for paper pulp).
Here's a few closeups of the ornaments. I love the pure white and incredible texture. If I have a chance I'll try to get clearer shots.
We also made the paper casts up at the People's Resource Center art class last Thursday.