If it were me, I would probably purchase a children's bible or a rosary or similar for the child when she gets a little older. I have 3 children- all baptized Catholic in Baltimore, MD. We had a party for each and received a few small gifts like mentioned above- Some just brought cards and some people brought nothing. I didn't expect gifts. The one gift that I thought was particularly sweet was a given to my DD by her Godfather on her baprtism day. It is a tiny music box that plays "Yes Jesus Loves Me". She is almost 12 and she still keeps that box in a place of honor on her nightstand.
I am not sure if my expectations reflect norms of my religion, my city, or just my family but just wanted to share my experience.