Is it a gag gift white elephant party or a real gift one? Seems everyone has their own definition.
If it's a gag gift, then I have the perfect one....a $3.00 bottle of Boone Farms Strawberry Hill wine. If you need to spend more, then get a six pack of them. That will meet a $20-25 dollar limit.
If it's a real gift one, then go to Target, get a gift card holder ornament and put cash in it equal to the gift limit. 4951