Just a thought, but do any of you know how to do crochett? I am making crochett things for some of my family and friends this year. I made some oven mits and also so doylees. Here in Iowa we can get a big thing of yarn for around 2.50 and that can make about 10-15 gifts depending on how large you make them.
I love to crochet and make many gifts. Big pleasers are throw rugs. The stitches are easy, and the project goes fast. You use the thick cotton thread (not yarn) and a "G" or "H" hook. You can also make rag rugs. Get some old colored sheets and cut/tear into strips 2", twist strips as you braid, and sew ends together to make long "snake". Sew in a spiral with darning thread/needle (use thimble!). This also works with old panty hose. Cut the panty part off and stretch the hose as you braid it. Sew ends together to form long "snake". Sew it together like above. Sometimes you can get all kinds of panty hose and nylons (all colors) at second hand stores. These also make good pot holders.
Aprons are very easy to make for the ladies and a very welcome gift. You can get very cheap fabric remnants at any sewing or kraft store. I've found some great material at Wal Mart for a steal. Again, this is where second hand stores come in. Making beautiful throw pillows are easier than you think. Even with nice "corded" edges. Making some nice pillows for the bedroom takes a little bit more money for the materials, but are worth the effort. They make exceptional gifts.
Make pans of lasagna (in tin foil pans). Freeze, and deliver on Christmas Eve, with a big bow on it. Nice change from all the sweets. I've made jars of homemade Spaghetti sauce (killer recipe), and gave it with various pastas in a basket. Sauce needs to be canned so you need to know how to do this. Making your own egg noodles is easy (just time consuming), and can be dried on a clean sheet on a large table as you make them. These can be added with the sauce for gift giving (everything homemade). Thing is, you can make these things way ahead of time. Lasagna can be frozen, the Spaghetti sauce canned in mason jars, and the noodles dried for long periods of time.
There's more, but I don't want to overwhelm you.