1. Cut many 8- to 12-inch lengths of felt into long pointed strips (3/4 to 1 inch wide at top to skinny point at bottom). Length depends on desired length of finished icicle. You will need three strips of the same length in three colors for each icicle.
2. Choose three colors of felt strips. Place in the bowl of water-glue mixture. Remove and squeeze out extra glue over the bowl.
3. Sandwich together the three felt pieces in three colors.
4. Use a pushpin to secure felt at the top to corkboard, pushing pin through all three layers.
5. Holding bottom of felt with fingers, twist the felt until you have an icicle shape.
6. Pull the felt icicle taut, and use a second pin to secure bottom of icicle to the corkboard.
7. Allow to dry overnight; remove icicle from board and cut away bottom to make a nice point, if needed.
8. Hang with ornament hook.