I'm watching QVC (my patron saint of shopping) and they've got a set of assorted bags and wrap.
I've bought bags before, mainly for teacher's presents, wrap the present in tissue, pop in the bag and its easy for the DCs to carry.
But for children, there's nothing to beat the thrill of tearing off the paper, making a load of noise and a load of mess.
I do wrap their stocking gifts with loads of Sellotape to keep them busy. Then these go in a sparkling light gift bag.
(If you are careful you can re-use the gift bags too, just add a new tag)