Well, by Laura's request, I'll cover edging next. I'd hate to leave her with unfinished ornaments!
Edging allows you to cut your project free of the larger piece of cloth and frame it, mount it, use it as an ornament, whatever. The easiest way to edge your project is to do a satin stitch perimeter - I usually do the same size as my Klosters, so over 4 threads. Pay attention when you get to the corners - you will want to share the corner hole with at least 3 stitches to turn the corner. When you get to the corner (starting from where your needle is entering the project), count over 2 and up 4, go down in the same hole, then count over 4 and up 4 (this is the point of your corner), go down in the same hole then count over 2 and up 4 (going down the other side). Each time you pull the thread taught, you will enlarge the shared hole.
Note: if you need the piece to be very sturdy, consider doing 5 stitches in the corner, instead of 3. Be sure to use your fray prevention product before you cut!
This technique works well for simple square, diamond or rectangular shapes. It's also a good option for pieces that have additional turns that would be awkward with Buttonhole Edging, which I will cover next.