It was so much fun making wrapping paper for my handmade Christmas presents. I only wish I would have taken more photos of the different papers I made. During a workshop at Building Character, we made lovely wrapping paper with hardware and other interesting things. For example, I made a very cool wrapping paper with keys imprinted.
I believe that the brown paper is pretty inexpensive and you can make very personalized paper then, too. You could also make birthday wrapping paper.
The other interesting thing about this gift is the gift tag. I have always kept Christmas cards I receive each year and have not figured out what to do with them. Well, this year I cut them apart and used them for gift tags. It is a simple project that makes good use of your old cards and gives them new life.