This pleated zippered pouch would make a great last-minute gift! Melissa from Blank Slate Patterns shows how to make one. The pleats and the piping make this a nice enough pouch to stand on its own as a gift, but you could also load it with goodies (cosmetics, art supplies, etc.) to make an even bigger gift. Go to her blog for the tutorial to see how to make one.
[photo from Melly Sews]