Label them accordingly. Discard broken or faulty lights. Store decorations away from children, pets, and water. Make sure all electrical lights, toys and appliances bear the seal of a nationally recognized certification agency, such as CSA, Intertek Testing Services, or Underwriters Laboratories. Don't allow your children to use electrical toys near water, and make sure they know that water and electricity never mix.
Electrical toys can become a shock hazard if they are misused.
Send warranty and product registration forms to manufacturers. That way, they can notify you promptly in case of a recall.