Please, please, don't be so hard on yourself. So many can't afford to BUY presents this year. My grandkids could open their own store so it's so hard to find something special for them. Some of the ideas offered are great. If the kids are close by to you, you could give them a gift certificate for a special outing with you....a gift of your time and attention.
My 95 year old mom made her special sugar cookies and my niece decorated little brown paper bags like lunch bags for each grandchild or each family. Oh, and her peanut butter cookies were included also. My niece is a teacher and she made a reindeer face for each bag. My daughter in law hides her cookies when she gets them and eats them in her pantry so she doesn't have to share them. LOL
A funny note, when I gave my daughter hers, someone had already raided the bag and her cookies were gone!! Too funny! The look on her face was too precious. We did make her some later, tho.