Are we talking about just the silk or ones that have pearls on them?
I've made high end Christmas ornaments with the silk tassels dangling from them. a ball might have a small statue with a ribbon hanger on the top, the ball studded with imitation jewels with ribbon and gold lace edges, then on the bottom a small gold ball and the tassel. I have glued strands of jewels around the tassel binder. The statue part can be quite whimsical and personalized. If I know the person, I can pick something they dream about, or something they love. One friend desperately wanted a horse trailer so she could come hunting with us. Her ball had a trailer in her stable colors, with her horse in it. A grinning fox was in the tassel as his lair.