We made Valentine windsocks as our art project. Very easy. You need a toilet paper tube (or cut a paper towel tube in two), crayons or markers, hearts printed off on different colored paper, and crepe paper rolls for the streamers. I hole-punched two holes in the top and strung yarn to hang them.
A fellow teacher did little Valentine men. Again, a very easy project, and the children work on their fine motor cutting and folding skills.