I, personally, cannot think of any lame gifts, but I will share a story that my mother tells every holiday season (she still takes issue with it): When my mom was a pre-teen, she and all her cousins would spend the night together on Christmas Eve and wake up really, really early to see what Santa had brought them. They'd sneak all the presents into the bathroom, close the door and play with the toys and then put them back under the tree until the parents woke up. One year, my mom woke up to find a beatiful new bicycle under the tree - just like the one she asked for. So she took it into the bathroom and sat atop it, admiring the shiny handles and testing out the hand brakes. She rode it back out into the living room to put it back where she'd gotten it when the lights suddenly came up and she heard my grandmother ask, "What are you doing on Ginger's bicycle? That's not yours...Santa brought you that set of luggage!"
Thirty-five years later, she still bitches about that ugly luggage and my grandmother still says, "Yes, but you still have it! Where's Ginger's bike...??"