We do "Large Family Holidays" back East. On Christmas there were 40 people at my parents' house. For a sit down dinner!
Rather than go broke and crazy trying to buy gifts for everyone, we do a major Yankee Swap. You can spend a maximum of $50, and can go kooky, e.g. a selection of "As Seen on TV" gifts, including a ShamWow and a Snuggie, or nice, like iPod speakers.
This being my practical-joke-loving family, I was tricky and wrapped the iPod speakers in the box from this glowing tea pot:
blue = cold water