Last-Minute White Elephant / Yankee Swap Gift Ideas for Holiday Parties

A while back, my family decided that buying Christmas presents for everyone was just too expensive. Instead, we started having a white elephant gift exchange on Christmas Day. Not only did we each save hundreds of dollars and several hours of shopping angst, but also, more often than not, we ended up taking home a present we actually liked instead of five sweaters that were destined for the Goodwill pile. Doesn't everyone want to be a gift-giving hero, to watch the recipient's face light up with delight, knowing that your time and money weren't wasted on an unappreciated gift? White elephant gift exchanges make that much more likely to happen because you don't have to please all the people all the time. If your gift appeals to at least one person in the group, then you've succeeded. If you bring something that several people want, then your gift becomes the life of the party. There's nothing better than watching a gift-trading frenzy as that perfect gift is passed back and forth -- especially if you're the one who brought it.

How do you come up with an amazing white elephant gift that will excite your party-goers like bananas to a group of chimpanzees? The most important rule is to know your crowd. Do they like to drink? Then alcohol is sure to be a big hit. If a six-pack of beer or bottle of wine isn't expensive enough to meet your gift limit, add cheese and crackers or wine glasses. Or package margarita mix and glasses with a bottle of tequila. For an easy last-minute gift idea with a bit of humor, buy an inexpensive cooler, and fill it with ice, beer and a large salami. Other funny add-ons to alcohol gifts include aspirin, condoms, or lacy underwear. Again, the important thing is to know what the group would find humorous versus what they would find offensive.

Another way to ensure that your gift provokes a feeding frenzy is to cheat on the gift limit. If your gift limit is $25, then bring something that costs $40. If you get caught, you can always say you got it on sale. The best gift I ever received at a white elephant exchange was a DVD player. The gift limit was $25. That DVD player was quite the popular item in the exchange!

Gift baskets are quick and easy to make and sure to please. Take a box or basket and add a popular, newly released movie on DVD, microwave popcorn, candy and a sign that says "Date Night." Or take a couple of coffee mugs, add hot chocolate mix, coffee and teas and call it "Remedy for a Cold Winter's Night." You can even top it off with a book of puzzles or a used paperback you have lying around the house.

If you're looking for something even easier, gift cards are always a big hit at white elephant exchanges. White elephant veterans know that light packages often contain gift cards or money. Don't make it that easy for them! Hide these gems in boxes or gift bags, and be sure to add something else to the package to give it some heft. Pick a store or restaurant that you know several people in the group would like. Grocery, drug and discount stores often sell gift cards for many popular stores and restaurants, so you don't have to go to the actual store or restaurant to purchase the card. Add to the surprise by hiding the gift card inside or under something inexpensive such as a chocolate bar, stuffed animal, mug or knick-knack you don't need any more.

If you are completely out of time, here's an instant gift idea. Crumple up a bunch of one-dollar bills and place them in a gift bag. Then put a big bag of M&Ms -- or used knick-knack -- on top of the money to add weight to the package and prolong the surprise.

With gift giving, they say it's the thought that counts. By following these handy tips, you may be surprised to find that it takes very little thought or effort to come up with a white elephant gift that is bound to please.