My children have traditions from 2 different cultures.
Tradition 1, put out (polished) shoes for St Nicholas on the night of 5th December.
Tradition 2, put a stocking at the end of your bed for Father Christmas on Christmas Eve.
When DC were younger, I put small toys, crayons, a book, socks etc spread evenly across both. An Apple and a chocolate figure in the shoes, a satsuma and chocolate coins in the stocking.
Now they are older we have settled into a tradition of more traditional edibles for the shoes (apple, nuts, chocolate, candy canes, cookies, not wrapped, or just wrapped in cellophane) and more modern little gifts for the stocking (this year a chocolate orange, pastel highlighters, body spray, flavoured lip balm, a book, a card game, all wrapped in red paper).
They love both traditional and modern equally, so I’m sure your children will love whatever you do.
We have always allowed them to open the presents in these as soon as they wake up, no parents needed, whereas presents under the tree are opened together as a family.