Sending your guests home with a gift is a great way to let them know how much you appreciated their attendance at your party. The cost or size is not as important as having the gift be special and something your guests will use.
Personalize
Send your guests home with something that will remind them of the good time they had. Make the party favor something your guest will use or display, not merely tuck in a drawer with other knickknacks. You don't have to spend a lot of money on the gifts to make them special. Making or decorating the gifts yourself will make them more special to your guests.
Ideas
Tie the party favor into the overall theme of the party. For a more sentimental get-together, such as a wedding reception, bridal shower or graduation, make the gift sentimental. Picture frames can be bought in bulk at a low price and decorated by hand with paint or glitter. For a bridal shower, make a small book of recipes you love.
More lighthearted events, such as bachelor parties and 21st birthdays, should have fun, lighthearted gifts. Think bottle openers or custom-printed poker chips. These items are appropriate for the theme and are likely to be used later, reminding your guests of your party. Creating T-shirts for the event is another idea. Most silk-screen shops will give you a deal on a group package, allowing you to immortalize your party on shirts.
Children's parties are possibly the easiest to make gift bags for, because you can load them with arts and crafts. For a carnival-themed party, send home a small paint kit, a package of long balloons that can be twisted into animals or a small clown-makeup kit. Princess-party guests can go home with their own glitter-covered princess wand or a pointy princess hat with a flowing vale. These can be cheaply constructed with items purchased at a crafts-supply store.
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