A packet of origami paper and a "how to" book.
Designer Paper plate / napkins
Origami holiday ornaments
Create a small piece of abstract art using shredded rice paper. (Can get at artists supply shop.)
Hey, whats wrong with a book... just make it unique. How about a "pop-up"... they can be pretty cool.
Maps (Venice, Sydney, the Moon...)
How about a book on how to make paper toys? Do a search on paper toys, you will surprised how intricate and fun they are.
Calendars are always appreciated at this time of year. I am always looking for a cool one to mark in the New Year.
Origami Christmas ornaments ! Borrow a book from the Library and get some nice paper, and go wild ! You can even make small ones and attach them to jewelry findings like french-hook earring posts.
Cover an old lampshade frame with a map or pretty paper.
With cold/flu season approaching, who can't use boxes of the good tissues?
Print and assemble custom bridge score pads for your group.
An inexpensively framed print is nice. You could probably easily find one of (wait for it) a bridge!
Personally, I love nice stationery - it makes me feel elegant to use 'the good stuff' for a note to my son's teacher! Add a nice pen for that really extravagant mood!
How about a pretty basket with paper plates, napkins, and a couple of paper table cloths from your area dollar store?
How about 2 or 3 (or just 1, depends on your spending limit) note pads that come with a magnet so you can put it on your fridge and use for grocery lists or whatever. I love getting these myself because I go through them quick!
Nobody mentioned a packet of postage stamps to use with the stationery everyone else is giving. Maybe make a little felt holder for them decorated with beads or sequins, etc.