I wish we would have known about him when my girls were little!! This is a great idea. When I was young we had an elf that hung in the tree and my mom used to tell me he was watching me. Boy I remember believing it too.
We do it, although it is a little different in the house with a 3 year old who is TERRIFIED of the damn thing. He always tells me to put him away, i keep telling him i cant touch him or he will lose his magic. yeah, hes not buying it.