Interesting idea for a challenge, Nerd!
Long as we're brainstorming about it, I'll throw in some suggestions...
Employing stamps would be my first choice for this sort of a gift challenge--not necessarily limited to just Christmas.
Possibilities are numerous & given that many of us have both numerous stamps, inks & other materials? We could find lots of ways to employ our stamps in many gifty items.
I enjoyed using stamps to impress clays & doughs to make ornaments, jewelry & home décor items. I also liked doing stamps on clothing & home dec fabrics as gifts--sometimes as just the image & other times as the pattern for embroidery (hand &/or machine)