For instance, the most basic prize is a piece of Aurora Fencing, and it requires two Magic Top Hats and one Magic Snowflake to earn. Here's a rundown of the other items in the event as of this writing.
Aurora Fence - 2 Hats / 1 Snowflake
Moon Tree - 10 Hats / 3 Snowflakes
Aurora Cat - 25 Hats / 6 Snowflakes
Star Bright Sheep - 50 Hats / 10 Snowflakes
Starry Pond - 85 Hats / 18 Snowflakes
Aurora Unicorn - 120 Hats / 28 Snowflakes
As you collect more and more of each item, you'll see a running tally in two locations in the menu, making it easy to see if you can currently "afford" anything. It's possible that we'll see additional items released in this event as time goes on (and as we all continue to build our own individual Snowmen), and if that ends up being the case, we'll make sure to let you know of any new items that become available!
What do you think of the Magic Snowman in FarmVille? Which of the six prizes will you save up for first? Sound off in the comments.