This year the girls have made salt dough ornaments, they paint them themselves and will be giving these to their cousins, they have done the letter of that childs name.
For adults we normally do our favorite photo's from that year.
I am thinking though of doing salt dough ornaments with a handprint on them and a photo glued to the back!

If your looking for something to purchase maybe x-mas cookies, chocolates - for kids you can buy cute barbie type dolls from k-mart for cheap, match box cars, pencils etc.