Looking for cheap gifts to give to friends or neighbors this Christmas? Here are 25 ideas that are inexpensive but fabulous! We have found the best Christmas gifts under $5! Yep with a little planning you can give a clever and thoughtful Christmas gift for under $5. With these Christmas gifts under $5, you won’t be the friend who forgot a gift, but you won’t be the friend who spent too much money, either. … These are the best cheap Christmas gifts that no one will realize are actually cheap.