I have just 4 people I buy Christmas gifts for but my oldest sister has a very large family and she has done several things the last few years that cost almost nothing.
She made a scrapbook of family pictures using the pictures she had on scrapbook paper that can be bought very cheap. The nice thing about these is she recorded names, dates and memories on the pages along with the pictures. Put them in cheap 3 ringer binders and decorated the outside with things she had available.
She has also given away some of the things that they had accumulated over the past 50+ marriage life. She chose who to give what to by what they liked--racing fan grandsons got some of their grandfather's collections of racing cars.
Granddaughters got quilts, dishes, etc. This costs her $00 and her family loved it. Her thoughts are give it to them now so they will not fight over it later. I have given some of my old family dishes, scarves, quilts I have to my family for wedding presents.
She also goes to the Dollar Stores all year long and looks for nice but cheap gifts for her younger great grandkids.
view link this is a site that tells about making gifts in a jar which would be good to include in a basket like you had talked about making.