I hate wrapping gifts, mainly because I'm terrible at it. Instead of a clean, crease-free package, I end up with a Katamari-like ball of paper and tape. If only there was a way to wrap presents where if you mess up, you can just try again without wasting materials... and was creative to boot? Then you might want to give "Furoshiki" a try.
According to Wikipedia, the Japanese "Furoshiki" translates directly to "bath spread" in English, though Google Translate provides me with "wrapping cloth". And that's basically the crux of it -- using cloth to wrap up objects, in this case, gifts for your friends and family.
Over on Furoshiki.com, there's a large library of folding techniques for wrapping gifts, making bags and creating simple fashion accessories. While the site also sells different patterned and coloured cloth to use in your efforts, there's nothing stopping you from going to your local Lincraft, Spotlight or similar store and selecting a nice, affordable piece of fabric.
It could end up being a bit more expensive than say, grabbing some cheap tissue paper or newspaper, but it'll definitely stand out in the pile of gifts under the tree and adds a personal touch almost anyone would appreciate.