I did this several years ago for a swap on Craftster.org. I found the most perfect photo of a fairy godmother (look at her! I'm sure that's who she was!) in an antique mall, and crowned her with a cigar band crown. She proclaims, as any good godmother would: "Anything you wish, sweetie!"
This art is mounted on a 4" by 4" board. There are lots of advantages to being married to a woodworker: I get all the scraps!
I hope this godmother has performed her duties well in her new home.