Did a quick search and did not seem to find any other threads, so I hope this is not a repeat.
Though I'd share a little thing I do with my family for Christmas gift exchanges. For the past 4 years, we have really cut down on Christmas gifts, with most of the "presents" we open on Christmas morning being items we actually NEED.
So for "fun" gifts what we do is all get together in a good downtown shopping area (or mall, just some type of place with a lot of variety), each with $5, and randomly draw names from a hat. We then split up on our own or in teams, and head out for 1 hour. We buy a neat gift(s) for $5 or less that we think our chosen person would enjoy. It is a great time seeing what you can get for $5, and most of the time it ends up being more meaningful than anything you could buy with lots of $$$. After the hour, we all meet back up at a coffee shop to enjoy a nice warm brew. All in all the whole night costs about $7 per person including beverage!
As an added plus, most nice downtown shopping areas around here all all decorated up for Christmas, and there is just a nice happy holiday feeling. Try it out, I'm sure you will enjoy it!