I always felt like the gift giving around the holidays was excessive, and sometimes I still do. Still, I find myself going overboard sometimes because I find things that I'm sure my kids will love, and I get so excited thinking about how excited they'll be. It's not anything that breaks the bank, and I've found that it adds so much joy to my holiday season that instead of feeling guilty for buying, I look forward to sharing the gifts with the kids. Not saying that you shouldn't keep it simple, etc, but in case you were feeling bad about the flood of things that might be coming your way, just know that it can also be a really good thing. Also, we almost never buy "just because" toys, so what our kids get for the holidays and their birthdays are the toys that they'll have to play with until the next year. That said, since they will be the toys they'll play with for at least a year, they better stand the test of time.
Here's some things that my kids have played with for at least that long:
A tea set (plastic, not porcelain)
wooden blocks
cardboard stacking blocks
baby doll and bottle
magnadoodle
pretend guitar
dress up clothes
pretend baking/cooking/food
a crawl through pop-up tunnel and/or tent
books, books, books (olivia, madeline, ferdinand, caps for sale, where the wild things are, ella sarah gets dressed, knuffle bunny, strega nona - these are all the ones that immediately came to mind as the ones we read over and over)
We do also often ask for clothes, but remember that's really more a gift for you than for her!
We've also gotten better at saying specifically that we don't need any more stuffed animals. Even if people don't ask what our kids want, we ask them not to buy more stuffed animals - they're coming out our ears!
Have lovely holidays!