I had this as a kid -- it's really not that much different than other activity books. It has various in-book activities like finding hidden images or counting things or whatever, and then of course it has projects to do. I don't think there are any I can use at my preschool because most of them are for older children, but it's nice, I suppose, that there's a theme.
I think what I got most of it from a kid was that I would make stuff with aluminum foil. My mom says we used to make elf shoes.