I was going to suggest the tub for each child aswell, they can pick their favorite things and then tell them things NOT in that tub will be going to kids who need them.
You can take them to the op shop or sell them on e-bay or through friends on FB etc.

I've also started mentioning to people that we are NOT doing many toys for our girls, if they ask and it's something educational that will last then thats fine but we don't want the little itsy bits that will get used once and never again.

The best advice if someone asks what to get your LO's don't say oh whatever.. don't be afraid to say you know what i'd love some BOOKS or PENCILS etc etc.