For my high school reunion, I made a centerpiece using a few stacked "presents" wrapped in graduation-themed paper and ribbon in our school colors. My presents were empty, but you could put anything you want in them, especially if the party is for an individual. I used scrapbook paper for the smaller ones and bought graduation paper from a discount party store. This could easily be adapted for any other theme or color scheme. One roll of wrapping paper could cover several presents and can be bought on sale. I could have made centerpieces for 8 tables for about $12.00 total!
Hint: If you need things to wrap, try phone books. Recycle!