For table decorations ask people if you can use some kid books and stuffed animals or you can go to a thrift store and buy them very cheap.Pot luck very good idea.
As a cute and inexpensive decoration, you can string a "clothesline" across the room and several people (usually the hostesses) can bring outfits for the baby. Onesies take up a lot of space, and a pack of them is cheap. Also, socks and bibs. This really is cute and appreciated.
To cover the tables, use shower curtains from the $store. They are thicker than paper cloth, and if something is spilled you can just mop it up.You can get them in any color.
Make it potluck. People are always embarrased to ask for others to bring stuff, but I even made my wedding reception potluck. Everyone loves them, you get to show off your recipes. Make your own cake, tastes better and tons cheaper. You can get decorations in the crafts dept. of Walmart. Make up some cheap games. You can google baby shower games, tons of them that only cost time. Go to Dollar tree for prizes.
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