I love cookie cutters! I love cookies! I love cinnamon!
I can't believe I love all those things and have never made cinnamon dough ornaments before.
My children did them when they were in grade school and I still have the ones they made.
They smell delicious, but don't eat them!
There are lots of recipes for them on the internet. This
site has 99 recipes for them!
This is how I did it:
1 cup cinnamon
3/4 cup applesauce
2 T. white glue (I used Elmer's glue)
Bake for approx. 2 to 2 1/2 hours in a 175 - 200 degree oven.
Turn every 30 minutes to keep the edges from curling up.
You can get a huge container (18.3oz) of cinnamon at Kroger's for $5. You may be able to get it cheaper somewhere else, I don't know.
First decide what cookie shapes you will need. Do you think I have enough to pick from?

I also have some vintage cutters that I like.

Here are a few different ones that you might like to try. Dog biscuit, hand, foot, car, cowboy hat and cowboy boot.

Here are the ingredients:

Mix together, it will look a little like cookie dough.

Work together with hands into a ball, cover with plastic and let sit for 1/2 hour.

Roll out onto wax paper (sprinkle a little cinnamon on the wax paper if you wish).
Put a layer of wax paper on top of the mixture. Roll out with rolling pin until 1/8" or 1/4" thickness.

Cut into shapes. I chose stars, snowflakes and hearts. Take the scraps, work them into a ball again and roll out to make more cookies. Use new wax paper each time. Lift the cookies up carefully.

Insert straw into cookie to punch hole to hang with.

Put them into the oven. The original recipe said bake at 200 degrees for 2 hours. Turning them over after 1 hour to prevent curling of the edges.
I started out at 200 degrees, but after about 1/2 hour I reduced it to 175 degrees. I kept them in for around 2 1/2 hours and I turned them every 1/2 hour. Still, a few of mine curled a little at the edges.
This recipe made 24 cookie ornaments. The amount will vary according to the size of your cookie cutters.

With a ribbon.

I think they turned out pretty good. If you are not impatient (like me) you can let them dry naturally. It will take 2-3 days and you need to turn them a couple of times a day.
Most recipes said to store them in an air tight container or zip bag until next Christmas.