I'm getting/got all my friends small presents - like a little card and something useful for whatever they are doing next year. One of my friends is moving to Chicago after having gone to college in BFE so I am getting him some restaurant gift cards so he can eat real food again. He loves Qdoba and there is one right by his office, so that will be practical.
I honestly really would prefer cash to just about anything right now - I also asked for IKEA and Pottery Barn giftcards.