A gift is always better when you know that there is much effort exerted unto it. It is better to receive such gifts from your loved ones because this means you are that special to them. In return, don't you think it is much better to give away gifts that you made yourself, too?
We cannot really give you exact suggestions right at this point. We all have our preferences. What we should give as gifts have to be dependent on the personality of the person we're giving them to and what they actually want. Say, if your friend is a big fan of this particular baseball team, then you could probably come out with a scrapbook dedicated to that baseball team. If you are giving your daughter a gift and she likes to collect her own rag-doll collection, then why not make one for her?
Another nice thing to note about gifts made by your own hands is that they don't have to be expensive. With materials already available in your place, you can already come out with those special gifts that will lift the spirits of your loved ones. Doesn't it sound better than those generic gifts you buy in the gift shop?
If you really don't have the time to make your own gifts, then try something else, something that will still make them extra-special--personalized gifts. A lot of companies nowadays give this kind of service for an added fee, sometimes for free. They understand that all people are different, hence the need to personalize things at times. If I may suggest so, here's one good resource for finding personalized gifts in the net.
But then again, whatever you give, as long as it comes from the heart, your loved ones surely have nothing to say against you. It's the thought that counts after all. What matters is that they were remembered during this very special occassion. To be remembered, I believe, is the greatest gift of all.