Great link Gari, some good info there
For pens and small stuff, yo-yos etc, I use two approaches.
One is a thin CA glue with a little BLO mixed in (Boiled Linseed Oil), this is mixed up in the spot in very small amounts and used right away, the BLO keeps the CA from drying to quickly and also preforms a lubrication function. this is a good finish, sanded to #1500 and then I hit the blank with the wax stick, the hard stuff, and then buff at fairly high speed, 2500 RPM for the buffing. I have a 3" buffing wheel on my hand drill, works great for this.
The other approach is to first use sanding sealer, I like the cellulose stuff, and then sand to #800 or even #1200, then I apply a coat of the friction polish. I use a white paper towel to put both finishes on, and I use friction to cure them right on the lathe. Once the friction polish is on, I go back to the buffing wheel.
Both of these methods are simple and effective, but they are NOT the most durable finishes, something that will take a few hours to harden will usually last longer, but I never seem to have the time.
Your Christmas ornaments, etc, they will not get handled so much, so I think the sanding sealer with the friction polish is the way to go, but make sure you get an even coat of the sanding sealer, and that you don't sand through it, as the friction polish can be hard to get even on raw wood, and will look like crap if you are not careful.
Hope this helps!
The pessimist complains about the wind; the optimist expects it to change; the realist adjusts the sails.
William Arthur Ward