I learned how to make handcrafted soap (oils/fats plus a lye solution). It's way cheaper to make really nice, skin-loving soap from scratch, even if you order some of the "spendy" items (like the fragrance oils and things like cocoa butter or shea butter). And then I start making bath bombs (aka bath fizzies). It's a lot of fun, and if you wrap them up in a wrapper with a nice label (I just used MS Word to make some labels), people go ga-ga over them. FYI, I made usable (though not pretty soap) on my very first attempt, and nice usable soap (as in, can give it away) within 3 tries.
I love homemade cookies myself, as I don't have much time to bake (and I have a terrible sweet tooth). Also, my brother makes awesome homemade salsa.
I think a lot of it is how good the end product is, and how well it is presented. I noticed with the soap that w/o a nice label, only the diehard soap fanatics would get excited, but with a label, pretty much anyone loves and thinks it's awesome. Packaging it up in a basket with some filler and a ribbon and/or card just makes almost any homemade gift seem awesome. :)
(If you want to learn about soap making, I suggest checking out http://www.millersoap.com/; for bath bombs, check out http://www.teachsoap.com/, and I'm also happy to answer any questions if you want to message me).