I've tried to do this over the years, sometimes it works and others I'm too overwhelmed to get any done!
One year, my brother and I made jewelry hangers. We bought some scrap wood and some cool knobs at the habitat for humanity restore. He cut the boards (18-24 inches maybe) and painted them black, distressed them and then installed 5 of the knobs across. I used some rub-on white swirly decals from my scrapbook stash to accentuate the corners. We gave them to all the "girls". The boys got the same, but painted red or blue to hang hats on.
Another year I put together family game night baskets. I bought super cheap huge popcorn bowls, made several types of flavored popcorn and bagged them up, added a board game and done.
One year was homemade mittens from felted sweaters I found at Goodwill. Make sure they are 100% wool, and wash in hot water. Use the felted wool, cut out mitten shapes and sew inside out. Then I used the ends of the sleeves to finish off the bottoms.
For the little girls (it's always easier for the girls) I made wacky flip flops. Take those $2 flip flops from Hobby Lobby and go to the yarn section and find the wackiest fluffiest fiber/yarn you can find. A little hot glue and wrap the straps with the fiber.
For the boys, my dad made marshmallow shooters out of cheap PVC pipe.
Food is always good. I've made crockpot cinnamon almonds that were amazing (smell like the ones in the mall), I've canned jams and jelly, those mixes in a jar are fun too.
I should be thinking of this years, but nothing has inspired me yet!