How about beaded wire bobeches? (The dish-type thingies that go around tall thin candles to prevent them from dripping wax everywhere. Geeze, I hope that made sense.) Or make beaded wire "jackets" for the votive candles...
Wraps for the votives for the gals (w/beads and such) and hats from the wool for the guys..then knit a few headbands for the girls from the woolease... <img alt="" class="inlineimg" src="http://www.mothering.com/discussions/images/smilies/smile.gif" style="border:0px solid;" title="smile"><img alt="" class="inlineimg" src="http://www.mothering.com/discussions/images/smilies/smile.gif" style="border:0px solid;" title="smile"><br><br>
I used to direct sell candles, and often made "relax with wax" packs. Take the leftover wedding bags and fill them with 1-2 votive candles. Include a few bath beads (you can buy a pack for less than $2) and a packet of tea. This would make an easy, inexpensive gift for the ladies.
You could make little pouches out of the felt and embroider them and add a cute button to close them with. Then put a beaded bracelet inside...or whatever suits your fancy! I have totally been in your position financially, and am sort of in it again (only I have a closet fullllll of crafting supplies!). People really do love homemade gifts, as long as they have a use.
We made some adorable napkin rings with wire and beads for tday--you could do the same and then put them in nifty felt pouches, or you could make some lovely stockings with the wool felt and decorate them with beads.
Oh yeah, with the scrapbook paper, you could make the victorian favor cups (like little cones that can hang from the tree) after rubber stamping them and whatnot, you could fill them with some candy or bath beads, or even some of the beads and elastic so that gift receivers can make their own jewelry.