One type of gift I've noticed growing more and more popular each year is the gift of donating to a cause in someone else's name. I LOVE this idea! Many sites will even send a notification by email to the honoree... In my opinion, this is the perfect last minute gift. I suppose you could even do this Christmas day and have your gift be perfectly on time!
My current favorite place to donate: Love146.org - working toward the abolition of child sex slavery and exploitation