A manzanita branch (from a dried-flower supplier) is shown, but just about any knobby branch can be used to make the faux red coral. 

For the candleholder wrappers, you'll need sheets of white drawing paper and a Japanese hole punch, a piercing tool available at crafts stores.

Reef Centerpiece How-To
1. Make the faux coral: Using red spray paint, cover a branch (or several), and let dry.

2. Make the candleholder wrappers: Gather cylindrical glass vessels of varying sizes, including
votive holders and vases. Measure heights and circumferences of cylinders; cut paper
to corresponding sizes, adding an extra  inch to circumferences. 

3. Lay paper on a flat work surface (to make multiples, stack several sheets and pierce them simultaneously), and secure with masking tape on short sides. Using the punch, make holes (of different sizes, if punch has feature that allows this) at even intervals. Wrap paper around a cylinder; secure with double-sided tape. Insert tea light or votive candle.