I'm almost finished with a fleece bathrobe for my son. I got some Luxe fleece at JoAnn Fabrics, and it is so soft I just want to pet it. It's not cheap, but I was able to get it at 60% off, then with an extra 25% off. He's a big kid, so a lot of bathrobes are too short in the arms, etc, so I wouldn't find anything long enough, with the same quality, for less than I'm making it. I'll probably use the scraps to make him a pair of pj shorts and me a pillowcase.
I'm working on a quilt for my parents with my sister and sister-in-law, but we won't have it done before this Christmas. We've knocked out about half the blocks, and if we can get together in the spring to lay it out, I should have enough time to hand quilt it before next Christmas.
In past year I've done picture frames, extracts, chia seed/oatmeal smoothie powder, dessert in a mason jar, lotion bars, candles, dog treats (always a big hit), etc. I think next year I'll aim for hot pads and maybe learn how to carve some mixing spoons.
Not sure what I'll do for the rest of the family, if anything. Some years we exchange small homemade items, some years we might not.