I've always liked the idea of decorated horseshoes, though I've never tried to decorate one myself until recently. These are two shoes from my mare who died over the winter. I decorated them in very different styles.
The first is wrapped in gold-colored ribbon, then wrapped in red thread with coral and turquoise beads here and there. At the bottom I did a larger grouping of turquoise beads. Mostly everything is held in place by the power of string, though there's a touch of glue on the back here and there to help in case the string shifts or stretches:
The next one has red and blue beads glued in the channel on each side, and copper and nickel metal rings strung on thread and wrapped around parts of the shoe. At the bottom I added a piece from a necklace that might have been from Afghanistan originally (long ago disassembled for use in making stuff!), and then added little strings of red beads and cowrie shells to that.