I really like doing felted sweater crafts for "guy gifts"... go to thrift store, find wool sweater felt it and cut it up, sew craft. I love knitting but when time is an issue this is soooo much faster.
Using this felt I've made:
--"manly man" scarves (browns and reds and blacks and hunter greens, done in a sort of patchwork, needle felted with the guy's name, or favorite image, or something significant)
--ipod, mp3 player, cell phone, random tech stuff cases- usually with loops to attach to a belt
--funny key ring things- DH is a big fan of quirky sci-fi stuff, so a GIR or Dalek or FireFly class ship. Things like that.
--floor pillows or those "laptop" pillows (felted sweater pillow with a "solid side"
--book covers (sleeves to go over books... I've also made cd booklets by taking the plastic guts out of commercial cd booklets but using the felt o make the outside. I use a tie instead of a zipper).
--"stress dolls"... looks like a computer, or the boss, but basically a beanbag that can be thrown at the wall when necessary.
--holiday ornaments, luggage tags, rear view mirror dangles (you have to know the guy in question... these were wanted/loved items
--bomber style hats
I've also knit scarves and Jayne hats, made duct tape wallets, made double batches of biscotti and wrapped the cookies up with packets of homemade chili pepper hot cocoa (add some spice and/or pepper heat to a generic hot cocoa recipe), made hot pepper jelly or jelly in neat combos (ginger peach, chocolate cherry, etc), love coupon booklet, chili or cookie kits with directions, bay rum after shave splash, and shaving soap.