At our house, older son's gifts are wrapped in red paper, the younger son's on green, and family gifts are in silver. No nametags -- each year Santa leaves a note reminding us about the colors.
I remember as a kid being really angry at my mother one Christmas, the one I figured out there was no Santa. I was probably in 1st grade and loved to show off my reading skills, so I got to read all of the gift-tags. I
noticed that Santa's handwriting was exactly the same as my mother's -- and connected the dots and told my mother I knew she was Santa. It still ticks me off. I refuse to let my lack of attention to detail be what derails my kids' belief in Santa.
That said, it amazes me that kids don't compare notes, or if they do, they don't care. At some houses Santa wraps, at others he doesn't. Santa fills the stockings at some houses, while mom and dad do it at others. I wish there was a rulebook.