Or take the lazy route

You can get this wreath here, at Anthropologie for $148. A bit pricey, yes. But I find being lazy always costs more in the end. And actually, I must say it is still not as pretty as the one with the felted balls. But even if you don't love the wreath, it is worth a peek at their website just to see the animated ornament catalog. So cute it makes me want to puke.
And with that, maybe I'll throw down a challenge to 40: in the next few weeks, let's try to make the cheap pom pom wreath. After all, surely ours will be beautiful!
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