These seem to be all the rage right now!
I found some fantastic instructions here for making your own sock monkey. Now I just have to find someone to give one to! My sister made a sock dog once and it was absolutely adorable. Eventually the ribbon fell off his neck, but he's still the cutest, and gets played with all the time.
I like all this diy stuff for gifts, but I wonder if anyone else appreciates it. I am planning on making a significant amount of christmas presents this year, and hope that I'm not wasting my time. If someone'd rather get a walmart gift certificate then maybe that's a more thoughtful gift.