The rage of party games has increased such that Christmas parties seem to be incomplete without Christmas party games.
Start your party off on the right by sending a fun invitation from American Stationery. On your invitation you will want to let your guests know what the theme is for your gift exchange. You can go a traditional route by doing an anonymous swap or picking names out of a bowl.
A White Elephant gift exchange is where everyone brings something tacky from their attics or basements. (I once received a velvet Elvis picture that became part of the gift exchange in years to come.) You can even hold a contest for the "weirdest’, "ugliest", and "most creative use of glitter/rubber bands/dry pasta".
You can always do the Secret Santa thing where a group of people each draw names of others in the group and must purchase something for that person in secret (set a spending limit either way).
With a little planning your gift exchange party will be a memorable event for you and your guests. Tis the Time to be Jolly!