"Cats love to play with Tinsel and swallow that. It can become a real bad foreign body in the intestine and result in surgery and veterinary bills," says Dr. Brad Crauer, medical director at the Seattle Humane Society.
"Things like wrapping paper or ribbon you use to wrap presents are very attractive for cats and can cause some GI upset."
Have electric decorations?
Crauer says electrical cords can look like a play things to curious dogs, especially puppies.
You might want to run those cords through PVC pipe or some other type of plastic casing to discourage your pooch chewing them.
And don't forget to keep the candy - all candy - out of reach.
"Chocolate is always brought up, but there are other things that can hurt your pet: sugars and caffeine can cause a lot of problems. It's not always life threatening, but it'd definitely something we want to be aware of."
One more safety tip: Don't leave candles unattended or within reach of your pet. A wagging tail can send that burning candle flying.
For more information
More info: Holiday Safety Tips from the ASPCA
Video: Holiday Hazards for Your Dog and Cat