Get yourself a big ol' roll of kraft paper like this one:
Wrap your gifts and then adorn your simple package with one of these gorgeous tags from Etsy seller Indelible Impressions:
Aren't they beautiful? I really think a simple paper package with one of these stunning tags would be all you need. The tags are a smidge more than $1/piece so using them wouldn't break the bank. And creating an assortment of brown packages with beautiful tags would look very pretty under your tree.
And when Christmas is over, the shop carries a multitude of other fun tags to help you finish up that roll of paper:
I think that's what Martha Stewart would call a Good Thing.