Wish I could take credit for this idea. Oh well. It's actually an idea featured in the September 2010 issue of Creating Keepsakes magazine. I fell in love with these the second I saw them, and decided they'd be a perfect little gift for my daughter's AWESOME pre-k teachers!
The body of the pencil (inside) is a package of Rolos and the tip of the pencil is a Hersheys Kiss attached to the Rolos with a glue dot!
To make the outside of the pencil, you cut a piece of yellow cardstock to 3 1/2" x 4 1/2", trim one short end with scallop edge or zigzag edge scissors, and score every 1/4" lengthwise...wrap around the Rolos and adhere. Then wrap a 3 1/2" x 3/8 " piece of pink cardstock at the opposite end. Add a small pink circle to cover the exposed end of the Rolos. Cover the seam between the yellow and pink pieces with a length of silver foil tape. Then just wrap the ends with a ribbon and tag. I used Create a Critter to make the apples on these, and printed my sentiment from my computer right onto the tags.
To finish, I put them each in a clear bag and made a bag topper with each teacher's initial and some embellishments on them. Super-easy and super-fun!
Thanks for looking and have a creative day! :)