hmm. what about a beautiful quilt. you can get some cute patterns in joanne's and other stores and they aren't that big for a baby so a quicker quilt than others.
they also have these little "lovies" that are a tiny blanket with a stuffed animal head on them.
Animal Lovies and Animal Security Blankets for Baby
also a personalized minky blankie with satin trim is sweet and simple but very meaningful if the baby gets attached to it.
can you make some nursery wall decor or a mobile? how about a darling outfit for a little gentleman? just thinking of things i would like for my son from a friend. my grandmother is making him a quilt of all different "boy" related patches. it's a "sampler" quilt but it's like bear tracks and windmills and things like that.