I got presents from my class back in the 90s. It's not a new thing.
Moving to a naece school in a very middle class area saw parents competing. One year, 2 parental groups formed in my class trying to organise mine and my TAs present. It got ridiculous. I had a £200 shopping voucher from one group, and £150 from the other. I asked the head if I should declare it, and the governors told me to enjoy it.
So I put both vouchers together, and sent photos to the children of the experience I enjoyed because of their kind gift.
The next year, and all subsequent years at that school, I sent a letter to parents on day 1 of term 6 telling them I loved the generous spirit of the school community, that meaningful words meant more to me than physical gifts and if they really wanted to give me something, nothing would bring me more joy than a letter from their child. If they were looking to buy me a present, please bring a donation for the local foodbank to school.
The last 2 weeks of term saw the food pile grow bigger. The classes learned a valuable lesson about charity. And I got some really lovely poems, letters and even a cd of a child singing a song about how much they'd miss me to keep forever.
However, my own children were gutted that the chocolate train ended that year.
So just don't contribute @Threecactusplants Don't allow the parent group to put that pressure on you. There are much better ways to show appreciation if you want to, imo. Sticking £10 in a collection is the lazy way to do it and you can tell that group of parents I said so! 🤣