John, Hunter Tools sells a set of 3 carbide cutters on three different orientations. Norm for christmas ornaments is a 5/8 hole.
John Lucas shows the hunter cutters in use. one is back facing and a bit tricky to get used to.
Lin shows a picture of his version of the Don Derry hollower. That style works but has a more narrow range of sizes. The out rigger helps.
Being a tool junkie, I have the Rosand, Derry, and Hunter. They are in price order low to high, and the hunter carbide is the best for widest range of sizes and shapes.