I still remember back in third grade my teacher gave us each a set of pens, a blue one, a black one and a red one in a plastic pouch and on the side of the pen it was engraved "Happy Holidays from Mrs. Simmons" I loved that gift!
You could do something similar by ordering personalized pencils from Oriental Trading (I've given them as birthday presents for all my nieces and nephews and for DD's Friends over the years). A set of 24 is $5.99 or a set of 72 is $14.99
On a related note: I can see some value of a teacher buying personalized pens like this:
http://www.motivators.com/Promotional-Custom-BelfastBallpointPens-46604.html and having them engraved with something like
"This pen was stolen from Mrs. Smith's Classroom"