I absolutely love these printable calendars from Etsy! At $5 - $10 a peice, they are perfect for stocking stuffers, grab bag parties, big family Christmases (where the budget is $5 per gift- seriously, you have to ask yourself what you can buy for $5 that's really worth something) and old friends (shucks- at this price you can afford to give one to all your friends).
All you need is Adobe Reader, a decent printer, a hole punch and some fun ribbon or twine.
Last December, we got together for a cookie exchange, then assembled the calendar from A Little Hut. So much fun! I'd love to do it again this year, but visions of small letters and Exacto knives are dancing in my head. Maybe we should buy a calendar with less assembly required and save our craftiness for... say... homeade wreaths?