My personal favorite gift to make for friends and family are personalized photo frames. It's one of the most inexpensive crafts I do that also can be so customized to that person.
Wooden Frame 4x6 ($1 at Michaels)
Mod Podge (many DIY recipes on Pinterest basically a watered down Elmer's glue)
Magazines for the collage aspect
Start by cutting out interesting pictures from the magazine that help you create the theme you want to create for this particular person. Then start organizing the pictures how you want them to be placed on the frame before you start mod podging. When you are happy with the placement you can put a thin layer of mod podge on the frame in the area you will be attaching the piece of magazine, then also put a thin layer of mod podge on the magazine cut out to ensure it stays.
The new fad of the elastic hair ties, that leave no marks in your hair when you put them up, is getting a little crazy. If you are one of those poor mothers who gets convinced to buy 4 of these hair ties for $10, I am here to save you a lot of money. I have found that the Sunshine Shoppe is the best wholesaler of this elastic material so that you can make your own hair ties! The variety of color, patterns, and widths is way better than any premade pack you see at Claires. Prices range anywhere from $.50-$1.10 a yard. The only other thing you'll need besides the elastic is a pair of scissors.
Cut the strips of elastic about 7 inches long for a hair tie, and about double that for a headband. Then just simply tie a secure knot at the end of the fabric creating the little tail end that sticks out. These are not only useful hair ties but more appealing on your wrist then the old school elastic black scrunchies.