Hate to be the Grinch, but I think they look better as ties. Ugly ties make ugly ornaments. How about putting some pretty fabric or Christmas fabric in the little hoops instead?
If going for a 'memory' ornament, this is a good idea to give to family members, as long as the deceased was known by his ties.
To me, this is the best use of old ties that I have seen:
http://quiltinspiration.blogspot.fr/...artin.html?m=1