If you haven't checked out the One Yard Wonders book - it's a nifty gift for the amateur sewer, although there are a couple of unusual projects (cotton legwarmers anyone?).
For christmas after getting some insul-bright I made multiple mittens and pot holders as gifts for family and friends. It was a fantastic way to use up some smaller bit of fabric in my stash, and it's a useful handmade gift. In my opinion it's only worth making if they are going to use it (refer to legwarmers above).