I don't know, but my suggestion is that after you pick a craft and make it, that you also have the students wrap the presents as well. (They could even make and decorate the wrapping paper). Just remembering from when I was in first grade and on the last day of school before Christmas when we took the presents home unwrapped to give them to your parents then and I would think it would be neat if the kids would have the presents wrapped to put under the tree for Christmas or for whatever form of holiday celebration they participate in.
Oh! I finally thought of an idea. (Not necessarily a good idea, but an idea.

). When I was in kindergarten, we made Christmas ornaments, and mine still goes on the tree each year.

We each got a styrofoam ball and glued two pieces of fancy ribbon around it, like a present (so it makes an x on the bottom/top and separates it into 4 sections). A string was pined in the top of it in a loop to hang it. We then took more small pins (like the ones you'd find in a man's shirt at the store prepackaged... small sewing pins) and pushed these little "decorations" into the ball ornament. I don't know what the word for the "decorations" are. They're maybe the size of "O" <-that, and are small circles, squares, stars etc with holes in the middle, just made out of shiny "tin" type paper, bought in huge packages in a craft store. Ok, so this was a lot harder to explain than I thought, and you're probably very puzzled at this point, but that's my best memory from my kindergarten craft.

(If you have any questions, feel free to send me a pm

). (Though... thinking about this now... a craft for kindergarteners/first graders with many many small pins doesn't seem like a good idea!

LOL! But maybe the Christmas ornament idea will spur some other suggestions

)