You have so many options and all definitely under $150! I just saw an ad for black friday that has a 7 or 10 mp for $99! Hot pink and takes videos too. I'm kind of vague on details, but it was either a Kodak easyshare or Nikon. DD got our old Nikon Coolpix and it takes great pictures (we moved on to SLR). The only thing I do NOT like on that one is a longer recharge period on flashes.
What a great gift idea...she'll have so much fun with it!