our staff at school did this but it could be done with a large family
Take a holiday related word i.e. Christmas - the first year everyone had to buy & wrap a gift beginning with the letter 'c' (candle, cookbook, CD, car wash tickets ...) the next year the gift had to start with the letter 'h' and so on. We set a min./max price so all were of equal value somewhat.
To exchange the gifts we had a yankee swap but you could also just number the gifts and randomly pass out numbers to participants. Person unwraps gift with their # on it.