Well I decided to do something totally different.... My husband loves deep frying stuff so we decided to make deep fried gift wrap.
I put one gift (a smiley necklace) in a baby food jar and the other gift (a necklace) in an altoid's tin. I made funnel cake batter (egg, milk, flour, salt, baking powder, sugar) and rolled the jar and tin around in the batter and then deep fried it. You could use any container that could resist the heat.
We were concerned that the oil would leak into the containers and ruin the necklaces. Amazingly, no oil got inside and the necklaces where still like new. I think the batter helped to seal the lids.
I then used Pull N Peel Twizzlers to make a ribbon and bow.
It was very fun to open the gifts. I actually made another one and gave it to my sister as one of her presents. She was very shocked at the wrapping and we all had a good laugh watching her open it.
Here's the baby food jar being dipped in funnel cake batter