We've made people Christmas biscuits before now. Find a simple Shrewsbury biscuit recipe to which you add Mixed Spice to make them taste Christmassy. Use a star/tree-shaped cutter if you have it (or regular cutter or upturned tea-cup) if you don't. Dip in melted chocolate and add sparkly sugar-strands if you're feeling extravagant. Present in a decorated box.
How about a nice photo of you and the dc? You could get a decent cheap frame to put it in, or alternatively you could make one yourself from cardboard and decorate the borders. I'm doing photos this year as presents for close family.
may be a little late but check out your local pund stretcher type shop, you can normaly get daffodil bulbs quite cheap+a pot-if flower pots are too expensive use an old mug/try a charity shop, plant as many as will fit with some soil from your garden and if the pot/cup it's in can take it, paint it with your toddler as well? could do the same with flower seeds or if you cant afford to buy any then you can use sunflower seeds that you buy in tesco etc.
or a "happy box", just an old jam jar that you fill with little things like pieces of paper folded up with nice quotes in/things to do/I.O.Us and some sweets, it could be like a january advent calendar to help them get through the month after christmas? your toddler could help by painting the jar or contributing to what goes in.
I got the seed from the market (I think £1 for 1kg), followed the instructions, dead simple just don't use a small fiddly cutter. And I used a paint brush to cover it with oil so it slid off easily. I made these with my 6 year old for everyone in the family.