You need:
Translucent pony beads
Round metal cake pans
Metal cookie cutters

Arrange the beads in the pie pans in any design.  Pack as many beads as you can into each pan – make sure all the beads are touching as much as possible.  Bake in a 400 degree oven for 30 minutes to an hour or until all the beads are melted together.  (I’ve discovered that the cheaper the beads the less time they need to bake.  I bought some expensive assorted rainbow colors and they took an hour to melt.  The bargain bag took about 20 minutes).  Watch your pans!

If you want a hollow center with a design then put a metal cookie cutter in the center of the pan and fill in all around it with beads.
You could also only fill in the cookie cutter shape if you wanted a specific shape.

Once they have cooled you can pop them out of the cake pans and drill a small hole in the top.  Use fishing line or wire to hang.