Most of our nieces and nephews (we have 9 to buy for) seem to have every toy under the sun. Their parents are wealthy but we are most definitely not, so trying to find xmas presents that are unique but not vastly expensive is proving a challenge. Parents seem to place an increasing amount of emphasis on the monetary value of things. 
I thought about making a couple of the boys (aged 5 and 6) a superhero cape each - out of a bright shiny (lycra?) material with their initials in a sort of badge on the back. I'm not convinced, once I've bought all the fabric, thread and extra decorative bits that it will be a particularly cheap option anyway!
So, is this acceptable or will they think homemade stuff is too cheapskate?
If it IS okay, anyone got any other ideas of nice things I could do for the others - a range of girls and boys from 5 months - 7 years! I wondered about getting dh to make a wooden pirate treasure chest (or I could decorate one of those blank cardboard ones you get), but wasn't sure what I should fill it with?