Here's a kagami mochi altar I created in honor of 2010. Unlike traditional Japanese kagami mochi, Ajumma's consists of plastic rice cakes (the 2 layers represent the past year and the upcoming year) and a plastic mikan (which represent family). I bought the fern leaves at my local florist. Kagami mochi run the gamut from simple to decked out. In true modern style, ours sits below our television.
Jenn, a baker and blogger, molded these cute new year mochi out of fondant and placed them atop cupcakes. Awesome idea! See Jenn's finished product here.