One of my favorite ways to use Chipboard tags is to paint and layer them with vintage goodness. I paint the base of the tag with a couple coats of craft paint (in an off white shade) and once it is dry start the process.
I used a few pieces of vintage lace and glued it directly on to the tag using E6000. Once that sets up, I glued some vintage book pages on, ephemera I had printed out, collage image (Paper Whimsy), mother of pearl buttons, foam snowflake and the final touch a silver German scrap. I found these from 32North a few years ago. I finished off the top of the tag with a little bit of crinkled seam binding ribbon in a beige tone.
This sort of tag is strong enough to be an ornament hung on the tree or even in a garland.