You can preserve colorful autumn leaves easily by spraying them on both sides with heavy duty hair spray! I did that, put them on twigs with wire - added nuts and other pods.
One year I surprised colleagues with a bag of goodies that I claimed were my favorites of that year. Unfortunately, you can't always do like Oprah and give people thousands of dollars worth of products but there are definitely frugal ways around this.
Remember end of season savings! I stock up on end of season plastic tableware or pool toys to give out as gifts throughout the year. For example: I just found beautiful $10.00 pitchers for $1.50.
Super-affordable holiday gift that will work for every person on your gift list (with the exception of kids). Look through the craft periodicals (sales papers) from the newspaper, or check the craft website periodically.
Going to garage sales has always been a hobby of mine. Something that is very cost effective is when people have new items that have never been used. It might not be something that I particularly use but get it and put it away for gift giving throughout the year.
Make someone special a CD of music. You can even customize the CD labels and cases for occasions and holidays. Music is a great way to express how you feel and is very personal yet inexpensive.
Use old coffee cups and saucers. Hot glue the cup to the saucer and it can be used as flower arrangement or soap dish or jewelry holder. Nice way to recycle an old coffee cup. Drill small holes for drainage if use for plants for Mother's Day.
My best friend is a photography major. We were going through pictures one night and came across a great idea. We went to Wal-Mart and bought a pack of business card magnets in the school supplies section.