Here's a quick idea for those of you who have leftover fabric laying around- make your own reusable gift wrap! A friend gave me something wrapped in a homemade bag years ago, and while I don't wrap everything under our tree in reusable wrap, I've made at least one or two bags every year since.
Since my sewing skills are are....hmmm...no so advanced, I generally make a pillowcase and just tie it with a pretty ribbon. (Check Goodwill and yard sales- I've gotten tons of ribbon and fabric perfect for this type of thing for a song!) If you are feeling fancy, here's some directions on how to make a gift bag with a drawstring.
They take up very little space- I simply fold them and tuck them into my gift wrap area.
I hope you have a wonderful Christmas this year!