We had a box that got filled every year.
I added this into my Xmas budget and worked for us because I put in useful stuff I'd have got for Xmas or just because it's needed anyway!
So
New pyjamas or dressing gown or slippers.
I didn't do Xmas themed as were intended to last as useful items!
Book - I brought a beautiful pack of 5 Xmas books one year and have one a year over time so economical!
dvd (that was Xmas themed or cars/planes and we've watched them all over and over each year!)
Sweets/ hot choc/ biscuits to eat whilst watching film.
Bubble bath
New blanket if needed.
Colouring books and pens.
The things that didn't make the box were given as Xmas presents so I just split those useful items up.
Stocking was then smaller items I didn't use for Xmas even box such as colouring pens, hot wheels cars, craft items, stickers, toiletries and when younger character socks and pants!
As ds for older (teen years) I added things cub as crackers, cheeses and bottles of j2o etc which we had for Xmas eve evening whilst watching films.
My advice is keep it small and simple and cheap and don't raise the expectations one year.
I see (on SM ๐คฆ๐ผโโ๏ธ) people who give large presents on 1st December and/or Xmas eve and I do wonder how you top that Xmas day or times like now where cost of living is rising.