I'm making a lot of bags... mostly fabric I have, or cut from thrift store items. Simple over the shoulder bags but then I'm personalizing them. For example my SIL is going to be visiting local wineries when she visits for the holidays so I'm hand stitching the wine trail image to the bag (a scrap of blue felt becomes the lake, a simple stitch makes the trail) with beads to mark the wineries. Then I'll add the free winery info brochures to the pocket along with a note pad/pen (from the craft store dollar bin) so she can take notes about the wines she samples. I'd love to give her gift certs for the wineries, but we have a near-zero budget so the bag will have to do!
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Same thing for other folk, bags are adaptable... a SIL who just discovered veg*n living gets a bag with a "new" used cookbook, and gentle living slogons stitched on. My 5yo dd1 is obsessed with dinosaurs gets a bag with a felt dino on the outside and homemade dino beanbags on the inside (two different dinos for tictactoe). My very steampunk dh is getting a bag embroidered with cogs, gears, and bits of schematic. My aunt who basically lives at the used bookshop is getting a bag with quotes stitched on it. My youngest is getting a bag with lots of pockets made from different colors/textures. All really simple designs that can be done with a straight stitch, but they look nice. And everyone can use bags these days when some stores are charging bag fees and most people carrying their own bags anyway.
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A neat low cost/big look gift we made a few years ago were custom clocks... clock kits are just a few dollars at craft stores and then you can put them in anything that you can poke a hole through! Old records, hard covered books, tiles or stones (assuming you have a masonry drill bit), plates/cups/saucers, cutting boards, whatever you have. I think it ended up being about 5 dollars each for the kit and the "face item" (neat decorative tiles from the repurpose shop, and vinyl records from the thrift store).