I still have a decorated egg shell my then 5 year old son made me. He carefully blew out the egg under Dad's directions, Scotch taped back the mass of broken shell, put glue on it and rolled it in glitter. It hangs on my tree every year, still shedding glitter, but it is precious to me.
Then there's the year my oldest daughter (8) gave my husband something for his desk..thumb tacks. They actually looked like thumbs with a nail through it. When DH stopped laughing he put fishing line on some and hung them on the tree so she could admire her gift for years to come!!
Youngest daughter, at about age 5, decided that since I read a lot a big book, a really BIG book would be the best present for me. So DH took her shopping, came back laughing. That year I got from her a huge Dictionary. No idea of where it is now...she's now a school teacher!!!
There are many memories on that now small, artificial tree, wouldn't get rid of it for anything.