I haven't the first clue of what to buy kids. I'm pretty new to the whole aunt thing, so I definitely come at it from that perspective. Here are some creative items I'd love to buy a niece or nephew or child of a friend (and hey, maybe even you parents among us might find some inspiration...although I bet you'll tell me I shouldn't spend much money on nice stuff for kids!).
I have a weakness for overpriced kid stuff, like: a rocking rabbit; an awesome United Colors of Benetton beanie; a mini-sized furry hat; a growth chart; an AMAZING elephant bookshelf; a "Rosebud" sled (ha ha!); Hunter wellies for kids; and a sweet little tree swing, ready to hang.