My girls favorite tradition I started when we bought our house with a fireplace, they were 2 and 7 at the time. "Santa" dropped a small gift for each one into the fireplace on his way up the chimney, I didn't think they would find it so quick but the oldest noticed immediately. Its now their favorite part of Christmas morning is seeing what Santa drops. It has been everything from a fancy chocolate sucker to a dvd to larger glitter filled balls. This year they are 16 and 11 and are already wondering what Santa would drop!
I also always get them an advent calendar to count down the days and they still love them!