Saw some fabulous biscuits in a posh christmas mag today - sorry, don't have a link online.
Gingerbread biscuits, in shapes of christmas baubles and hearts, a hole punched in the top before baking so that a bit of ribbon can be threaded through. Then all iced in plain white icing, with delicate white piping on top - think pretty narrow 'lines' and 'spots' - looked fantastically classy.
Wrapped in cellophane, or tissue, would look fab.
Also, I made lots of felt padded hearts last year. All stuff bought from Poundland. I embroidered the felt with normal wool - snowflake patterns, and words like 'noel' and 'joy' and 'peace', very simple - and did blanket stitch all the way round the edge. Bit of string on the top to go with the country look. Everyone liked them, timeless and pretty.
And bought fab little jugs from Poundland last year, shape of christmas puddings and santas, fillled with sweets and homemade fudge.
(really, I don't work for Poundland!! am an addict of this shop though!!)