A few labels from this year production - Abstract and stylized designs work well
I just use two card punches I found in a craft shop. The first one (below) cut out the label.
I then use a second one to punch out the small whole for the thead.
These labels are large and good for presents. But you get the idea and possibilities are only limited by your imagination: smaller labels as price tags, large labels used as "thank you notes", etc.