We have three kids (6, 3, and 1) and they get inundated with gifts from extended family, so we don't end up gifting them much from ourselves. While I try and get family to pare back, we mostly gift experiences as a counterbalance. A museum membership, tickets to something, a subscription like kiwicrates or a magazine, or even food. This year we're taking the oldest two to Legoland and calling it good. Santa brings a small gift for each, usually thrifted or received via our Buy Nothing group. Our town is doing a toy swap for the first time next week and I hope it becomes an annual event.
I've tried to get family to give experience type gifts but they insist on nothing but toys, maybe a book. After everything gets opened (which sometimes takes two days) the kids get to pick one or two things to play with, and everything else gets moved out of sight into a closet. Then the new toys come out slowly. Very slowly. And any duds get regifted or donated asap.
My MIL has been restricted to four gifts per child (want, need, wear, read) and if she still can't hold back, then I'm putting my foot down for future holidays. I love Christmas but I'll be a scrooge if I have to.