Well, the Vedic explanation is that God is within every living entity, even down to the atoms. This is called Paramatma or the Supersoul, which is not so different from the Christian Holy Spirit.
Miniature creators, perhaps. But even then, God is, by definition, the overall controller/creator. The best we can be is creators after the fact. That is, if we're using the word "creator" in a loose sense.
Well, whether you identify that "higher power" as a god or as nature, the fact of the matter is that we are all subject to it. You can't fly at will or dive head-first off the Eiffel Tower and live, for example. There are laws that govern your physical existence, in other words.
The idea that we can each be our own gods is considered a symptom of Maya, or the illusory material nature. In fact, it is explained that the material universe is created because a portion of the souls desire to try and become their own enjoyers and controllers apart from God. God is, in this view, THE controller and enjoyer, whereas it is our position to take part in God's bliss, being part and parcel of Him. But currently we have decided to try and find bliss separate from God, which is considered the root of all illusion.
I often see both theists and atheists stressing God as creator, but if you think about it, "creator" isn't really one of God's core, transcendental features. God HAPPENS to create, but He doesn't do it upon His own consideration. For, if it were solely up to God, what possible reason would He have to create a world of temporary forms? God, as typically defined, is self-sufficient: He needs nothing and has nothing to gain. So, the Vedic version is that God creates because lesser (i.e. fallible) beings desire it. It is really only inferior beings who put value in creation or the ability to create. If God ever seems to put value in those things, it is only with qualification. In other words, God might value creation indirectly because He values His eternal souls, who in turn value creation.