Halloween revelers are spooked.

With the recession being the worst since World War II, a survey by the National Retail Federation has found Americans are planning to cut back on all things Halloween by more than $10 — and that includes decorations.

"They're just being very frugal," Tracy Mullin, president and chief executive of the NRF, told CNBC.

The good news is some of the most frightening fixings for the house aren't always those that you buy ready-made.

Just skim through the latest Martha Stewart Halloween Spirited Celebrations magazine, and you'll see handcrafted decorations, party ideas and pumpkin carvings to inspire as they should.

"Halloween is a holiday of fun and creative expression," says Blake Ramsey, assistant crafts editor for Martha Stewart Living.

This year, that couldn't be more apropos.

Nothing screams Halloween like the pumpkin. When carved into a jack-o'-lantern, it's one spooky gourd.

But why stop there?

Pumpkins can be etched, painted, masked and stacked into totems, or discarded altogether for squashes and gourds of different shapes, textures and colors.

Martha Stewart Halloween Spirited Celebrations, now on newsstands, features a pair of autumnal Wise Pumpkin Owls.

Each is made using a large pumpkin for the body and four miniature ornamental pumpkins for the ears, eyes, beak and feet. You can find more detailed instructions at www.marthastewart.com, but here's how they're made:

1. Cut a hole in the top of the large pumpkin and scoop. With pumpkin on its side, drill two 5/8-inch holes far apart for eyes.

2. In tops of two mini pumpkins, cut holes slightly larger than eye sockets and scoop. Drill small hole at bottom.

3. Bundle a pair of four bulbs from string lights with rubber bands, pushing each through an eye socket. Using toothpicks, attach mini pumpkins over the lights.

4. Wrap more lights around a tall glass jar, securing with tape, and place inside the body. With a wood gouge, cut half circles into the skin for feathers.

5. Cut features from remaining two pumpkins. Attach with toothpicks.

Shadows are creepy. So naturally, adding a silhouette of a witch, crows or three-dimensional faux chandelier to your home is one of the easiest ways to invoke the spirit of Halloween.

"It really can transform a room," Ramsey says. "Put it over a fireplace, or just on a wall over an hors d'oeuvres table."

Silhouettes also can be freestanding.