I don't think this is a good place. We should use honor. Children's ornaments should be trinkets, not decorations.

Small ornament

Small ornaments, worthless jewelry

decorate

Noun (short for noun)

1. decorations [C]

She went in this morning and found an ornament missing.

As soon as she went in this morning, she found an ornament missing.

decorate

His works are very simple, without any literary decoration at all.

His works are very simple, without any literary grace at all.

3. People (or things) who add luster

He added luster to his career.

He brought great honor to his team.