I have made this an easy paper craft for your children by creating a template for you to print out.
But you can also just follow the general technique and make your own version. You start with either the template printed out onto red paper or lightweight card, or draw your own Santa following the general style below.
Add the seasonal trim of cotton wool, or that classic fall-back of glitter.
Roll the bottom cone and staple at the back and your Santa is ready to decorate your window sill or even top your tree.
You could use this same technique to make an angel or even three wise men.
For some other festive crafts check out the Christmas Paper Crafts for Children list.