Cheap gifts that don't suck are the best! Gerber always seems to pull through for me around the holidays, this year with their EAB Lite, a tiny pocket knife that will take up only 2.8" of space inside the pockets of people I don't know that well and family I don't like the much, but still (for some inexplicable reason!) find myself buying a Christmas present for.
Open, the EAB Lite extends to 5.2", revealing a (replaceable) standard or contractor grade utility blade. The knife handle's deep finger grooves provide grip assist when cutting open boxes or slicing rope. A clip on the back of the stainless steel handle can secure the folder to a belt or pocket, or double as a money clip. EAB Lite weight is true to its name at 2.5 ounces.