One of the most innovative companies creating decorative lights using LEDs is QisDesign in Taiwan. They showed the floor version of Coral Reef in sliver at Light+Building last month and the response was so positive that (a Fine Lighting News scoop coming up!) they will be adding it to their catalogue in July.
There is also a table version:
This cute design is made possible by the cool running and small form factor of the LED light sources, which permit the lighting body to be very slim -- to be sculpted to a very distinctive, attractive shape.
Not just attractive and distinctive, but practical too.
The lighting bodies are cool and adjustable, so the user can position the light where they need it. It is controlled by a touch dimmer on the stem. The on/off switch is on the cord. This should mean that there is no trickle power consumption when it should be off (many LED lights are never truly off, negating any claims to efficient power consumption).