We had stockings growing up in Ireland, and it was Santy who brought them and the pile of toys (all unwrapped but displayed really nicely)
We never had anything upstairs. Our 'stockings' (school tights one memorable year!) were hung on the mantlepiece and that's where they stayed. Myself and my sister had a side of the fireplace each and our presents were all arranged there.
It was wildly exciting to creep down stairs trying to peep in the slightly open door of the sitting room to 'see if he'd come yet'. My dad made a great effort with this - he always led the way and would say stuff like 'don't be disappointed if he hasn't been yet, we'll go back to bed for an hour' or 'hope we don't catch him in our sitting room, close your eyes and I'll check' etc we were really riled up with excitement by the time we got in the door!
One year we also got pre-made stockings from a place similar to Hawkins Baazar and I can still remember the sheer joy of all that 'tat' - fake witch fingers with long nails you could put over your own fingers, magic tricks, spinning tops etc - total rubbish but we were enchanted as we'd never had / seen most of the stuff. I got a bike that year, which I knew was for me to cycle to school and back. I never asked for it and I didn't want it really. I remember as I was oohing and aahing my way through the stocking of tat my mother saying 'look caperclips did you see your new bike?' and me - barely glancing at it 'yes, but look at this whoopee cushion ' 
she must have been fit to kill me!
We now do a mix of really nice things and cheaper things in teen dd's stocking - this year she's getting stuff like an apple charger, hotel chocolat treats, percy pigs, monogrammed soap from Anthropologie, Studio Ghibli night light and a sort of illuminated snow globe, Japanese edible treats, Lush products, monogrammed mug from Anthropologie, beauty face masks, nail polish and a couple of other small things
We now do stockings for each other and I have ordered a few things for mine as I was making an order from Anthropologie so added them in but dh will finish it off.
So far I have beautiful socks, liberty pattern facemasks, a set of small bowls for nuts / olives (they're really small), mini champagne, hotel chocolat - dh will add a couple of other things, based on other years it could be a book, makeup (a nice eyeshadow palette), luxury soap (which I love), a really nice drinking glass (another thing I really love) a mug from the set we collect
For dh I have a multi use tool, mini champagne, a table tennis set (will actually be too big for the stocking) a mug, a lovely whiskey glass, pork scratchings (YUK) cherry liqueur dark chocolates, fancy socks, a science magazine, chilli sauce, toblerone
I think there is something really nice about having a little pile of luxuries just for yourself - for me there's nothing nicer than spending an afternoon during the holidays when all the visiting / hosting is done and being able to relax with nice chocolates, a little bottle of fizz and a new book or nail painting with a movie or music on.
Whoever is with us on Christmas morning gets one too, last year we had my parents and I made up one each for them too and brought them up to bed to them as my dad has health issues and is slower at getting up. They weren't expecting a nice cup of tea and toast and a mince pie and a lovely stocking each - they were really touched and they both said they hadn't had a stocking since they were little.
Long live stockings!