The problem with making your own Christmas gifts is that they can often look, well, homemade. Here are a few ideas for things you can make that will still have the feel you are going for:

Bake:

If you can do intricate work, iced sugar cookies or gingerbread cookies in a tin always look festive and nice.

If your icing never goes on straight, how about making some squares? Bake a batch of cranberry squares, lemon bars, fudge or even brownies. To make sure the edges stay nice, make sure to cool completely before cutting (sometimes I freeze the lemon bars first).

Make ornaments

It’s reasonably easy to find empty glass or plastic Christmas tree balls. You can then place a feather, a small toy, or some glitter inside.

Knit

If you can already knit, it’s actually quite a bit faster to make fingerless gloves or a hat than it is to make a scarf.
If you’re just learning, you can knit or crochet someone a set of dischcloths or potholders.

Paper Crafts

You can make sets of Christmas cards (especially if you already own things you can stick on) fairly nicely. It’s attention to detail that matters.
Common paper gifts include photo calendars. You can find nice calendar templates to print out on people’s blogs.

Jewelry

With some practice and research, you can make nice bracelets and earring with wire and beads. Another fun gift with these materials is a set of wine charms so that people can tell which craft is there.

The trick to giving handmade gifts is in the finishing. Make sure that you have no loose ends, clean edges, and have nicely wrapped the gift in a bag or with paper.