As I've already mentioned in other posts, we give our four foster daughters a little gift in their stockings each morning. One morning their gift was a paper mache ornament that they could paint, glitter glue, etc.
To make it easy for them, I set up a station with all the supplies they'd need to decorate their ornaments - paint, glitter glue, paint brushes, paper cups for water, etc. And I covered the table with a plastic table cloth from the dollar store to make clean up easy. I also put out a container of other wooden and paper mache items they could decorate for gifts, if they were so inspired.
I set up another table with beads and and jewelry supplies so they could make jewelry for their friends and family should they choose to do so. I made a couple of sample Christmas earrings to give them ideas.
More on gift-making: