This paper wreath from Sweet Paul Magazine doesn't call for reclaimed paper, but you could totally do a recycled take on this paper craft project!
Rather than using new paper, raid that recycle bin! You can use the backs of bills or the reverse side of paper that you've printed on to make this paper wreath. I also think it would be really pretty if you make one using the insides of security envelopes. They're often blue and white, which has a perfect, wintry feel. Maybe you could even make your wreath out of old maps?