Coming from a teacher's point of view, there are usually a lot of soaps and lotions (which are nice, however, esp. considering how many times we wash our hands ever day).
Some of the more memorable gifts have been themed gifts. For instance, I received a movie night basket. It had two things of microwave popcorn, a couple boxes of movie theater candy, two twenty ounce bottles of coke and a $5 gift card for Blockbuster. It probably didn't cost the parent much more than the $5 gift card and was very fun.
I also received a "Dinner in a bag" kit. It had a box of spaghetti noodles, a jar of sauce, a little shaker of cheese, a loaf of artisan bread and a small package of red checked napkins.
I received a "New Mommy Kit" the Christmas after my son was born which had instant coffee, a package of ear plugs, a package of shout wipes, a little thing of lotion and a cute coffee mug.
There are lots of good ideas out there beyond the standard box of chocolate or thing of lotion, but trust me, those lotions and chocolates are appreciated too!