We bought our God daughter's dress and then we also got her a crucifix/chain.
For our DD's First Communion her Godmother got her a "Family Bible". It's a huge bible that you bring into your Marriage and there's a place to write in the wedding day, all births and baptisms, weddings, etc...it's a beautiful bible.
We gave our own DD a crucifix and a rosary. Then she got the Family Bible, a couple of statues, she got a religious bracelet from my sister that she bought at St. Patrick's Cathedrial and she got lots of money and one $200 savings bond. No toys though which I think is not appropriate anyway.
Another very nice gift would be a gold Rosary bracelet.
Another good gift is a nice large crucifix for the wall. Not a childlike one but a real nice wood crucifx for her bedroom wall and for her own home when she grows up.
The Miraculous medal would be a nice gift.
IMHO, since you are the Godparent, I'd talk it over with her parents and see what they are getting her and what she already has and then go from there.
I'm very curious though; I thought you had to be Catholic to be a Godparent??