one great gift i've discovered for seniors in shared living situations is magazine subscriptions.
one year just for the heck of it my brother and i conspired to get my mom subscriptions to 'those awful gossip magazines' she always claimed to never read but pounced on at the beauty shop (national enquirer and people). she not only loved them but took to passing them around to the other seniors in the place she lives, who enjoy them AND enjoy talking about them with each other.
good non tabloids to send subscriptions to are reader's digest (esp. large print version), reminisce and reminisce extra.
one small gift that is often appreciated by seniors is a package with a variety of greeting cards. it's hard when someone can't get to a store but they like to send birthday or other holiday greetings.
if someone wanted to make items i think a small (binder paper sized) thing to hold photos would be great. they could take a peice of cardboard, put some batting on top and hot glue fabric over it. put intersecting ribbon on it and something so it could be hung on a wall. many seniors get lots of photos from family but have no way to display them. if a person did'nt want to make these they could buy small photo albums at the dollar store.