Giving your superiors expensive gifts is always considered a no-go. While your peers may consider it brown-nosing, your superiors may look at it with veiled contempt. Depending on company policy, some may accept it in order to avoid hurt feelings, but it makes the situation awkward for everybody. Instead, opt for a card. If you feel obliged to give a gift, make it something personal and inexpensive, a little something that caters to their interests.
When it comes to planning gift giving for those working on a project that you manage, organize a Secret Santa. However, the best way to do this is White Elephant Gift Exchange. How that works is simple. All workers get a gift that must be within a certain price range, usually between $10 to $20. The worker does not know who the gift will ultimately be for so it must be a unisex gift. Some office spaces opt to make the gifts funny, but most people are usually satisfied with genuine presents. All co-workers then bring the gifts to work, and they are exchanged anonymously or through the White Elephant Gift Exchange. In this, everyone takes turn picking a gift. The first person picks any present. The next person can choose any present that's already been chosen or a new one from the pile. This creates a fun, no-pressure gift environment.