PREHEAT oven to 325°F. Cover baking sheet with parchment paper or foil. Cut a 1-1/2-inch piece of a plastic drinking straw; set aside to make hole in ornament. Using ring-shaped hard candies, sold in a bag; unwrap 4 red and 3 white candies.
ARRANGE ring-shaped hard candies on paper in 6-inch candy cane shape, alternating colours.
BAKE 3 to 6 min. or until candies are melted. Remove from oven. Make a hole, about 1/2 inch from the top, by pressing the drinking straw piece into ornament, leaving in place until candy is cooled.
COOL completely before removing ornament from paper. Gently remove straw. Thread a 6- to 8-inch piece of yarn, ribbon or shoestring licorice into the hole to hang the ornament.