Ready, Set, Swap! How to Host a Favorite Things Party for Any Budget

These are a few of our favorite things: parties that warm cold winter nights, receiving adorable digital invites, gift swaps so fun you can hardly believe you’re leaving with something you’d want to receive!

The only place you can find all three of these things is at a favorite things party. A favorite things party is your answer to the white elephant party, which involves a lot of gag gifts that are good for a laugh but end up in the trash as soon as the party is over. 

But a favorite gift exchange includes all the awesome little things that your friends, family, or co-workers can’t live without. So, not only is this gift exchange party a great way to discover your new favorite thing, it’ll also help you get to know some of your favorite people a little better.

If you’re tired of gag gifts and you’re ready to get (and give) something good, then you’re ready to host a favorite things party. We’ll walk you through the planning process step-by-step and share fun gift ideas to fit your price limit.

How to Plan a Favorite Things Party

Planning a favorite things party is a lot like planning any other party. You’ll decide on your party details, send out invites, and prepare some tasty treats. But whenever there’s a gift exchange involved, you’ll need to figure out a few extra details, like the price limit and the rules for swapping. Here’s how to handle the party planning process — even if planning is not your favorite thing.

Nail Down the Details

First things first, you need to lay some ground rules. There are a few different ways to organize a favorite things party. To make the party run smoothly, you should explain the rules on your invitations — which means you need to decide on the rules before you send out your invites. Consider yourself royal highness for a day, and start making decrees about:

• The number of gifts: You can ask guests to bring between one and three identical gifts. If every guest brings one gift, then everyone leaves with one gift. But if every guest brings three gifts, everyone leaves with three gifts. More gifts can increase the odds of each guest discovering a new favorite item.
• The price limit: The price limit should depend on your social group and their spending capabilities, but typically, you’ll set a higher price limit per item if your guests are only bringing one gift each, and a lower price limit if they’re bringing multiple gifts. So, for one gift the limit might be $20 but for three gifts the limit might be $5-10 each.
• Wrapped or unwrapped: As much as we would love brown paper packages tied up with strings at a favorite things party, it’s more common to ask guests to leave their gifts unwrapped. This makes it easier for the gift giver to explain why the item is a favorite. Gift bags can be a good compromise if you want the festive feel of wrapping paper but also want to be able to show off the gifts.
• Swapping etiquette: You can do your swapping Dirty Santa-style (à la white elephant), or you can choose a friendlier swapping style. Have everyone write their name on one slip of paper for each gift they brought. Then, have guests explain the gift(s) they brought, pick a name for each item, and give their gifts to that person. Or, choose names from the bowl and let each person pick their own gift when their name is called.

Beyond your swapping strategy, you’ll also need to pick a date, time, and place — just like you would with any other party. Once you’ve got it all figured out, you’re ready to make this party official with some invites.

Send Out Invites

Design: Jen Montgomery

Pick a favorite things party invitation — like this adorable design — that includes plenty of space to add your party details. At a minimum, you should include the date, time, and place of the party, as well as instructions on the number of gifts, price limit per gift, and wrapping requirements (or lack thereof).

For the easiest party planning experience, choose an online invitation. An online invite is easy to customize with all your party details. Once it’s ready, you can send it to your guests’ email addresses or phone numbers. Then guests can RSVP online so you know exactly how many people to expect.

Make Some Munchies

Food plus presents is a recipe for a seriously fun party. But you don’t need to serve a full meal. A selection of finger foods and appetizers is often enough to fill everyone up.

You can also serve your family’s favorite holiday recipes, try classic holiday party food ideas, or serve crisp apple strudels and schnitzel with noodles (although, maybe not in that order) to match the “My Favorite Things” lyrics from “The Sound of Music.”

A potluck is another fun way to bring the favorite-things theme into your menu. Ask each guest to bring their favorite holiday food with them and you’ll be able to eat favorite things while swapping favorite things.

Don’t forget to include a few festive beverages, like one of these holiday cocktails. And of course, if you have no time to cook at this time of year, just remember: Pizza is everyone’s favorite thing.

Favorite Things Gift Ideas

Now that you’ve planned your favorite things party, all that’s left to do is pick out your favorite thing and give it as a gift. In the spirit of the party, whatever you give should actually be one of your favorite things — something that you use everyday or are super excited to pull out on special occasions. In other words, the best gift guide is your everyday life.

But if you’re still struggling to come up with ideas, we have a few favorite things that could inspire you to remember your own. If your favorite thing is way below the price limit for your party, you can put together two or three smaller items to make one gift bag. Here are ideas for every budget.

• Beauty products: If you have a go-to lip balm, hand lotion, mascara, dry shampoo, leave-in conditioner, eye shadow, nail polish, or face mask, it’s time to introduce your friends to your favorite product. These goodies are a great idea if your party doubles as a girls’ night.
• Ingredients: Anyone who loves to cook will be excited to receive your favorite olive oil, balsamic vinegar, hot sauce, spice blend, or other ingredient. Make this gift extra meaningful by including your favorite recipe to make with the ingredient (like your miso-glazed fish recipe and your favorite white miso paste).
• Kitchen gadgets: For another gift that a foodie can give, try sharing your favorite citrus squeezer, garlic press, bottle opener, or wine glass markers.
• Warm beverages: Your favorite tea, coffee, or hot chocolate can warm up someone this winter. You can even pair it with your favorite mug for a super cozy gift.
• Sweets and treats: You know that chocolate, candy, popcorn, or savory snack that you can’t stop eating? This is a perfect time to get someone else hooked with you.
• Desk accessories: If you can’t get through your workday without your desk calendar, mug warmer, or cable management system, share it with a lucky recipient at your party.
• Tools: When you’ve found the absolute best screwdriver, wrench, hammer, or photo hanging kit, your knowledge needs to be shared. Give it as a gift at your get together and your recipients will leave with something they’ll actually use.
• Entertainment: That book you’ve read multiple times, the Christmas movie you watch every year, or the album you’ve been playing on repeat all make great gifts. You can even send them digitally, so this is a great last-minute gift idea.
• Plants: This is a fun idea for all the plant parents in your group. Pot up your favorite indestructible houseplant and share a little greenery this season.

Throw Your New Favorite Holiday Party

If you’re ready for a different type of party at this time of year, you’ll love hosting a favorite things party. This gift exchange doesn’t require any scheming or stealing (we’re looking at you white elephant party), and there are no ugly sweaters in sight. (Although, we have an awesome list of ugly sweater party ideas if you’re interested.) 

Instead, a “My Favorite Things Party” is the perfect excuse to have a little wholesome and heartfelt fun. Everyone gets a chance to share their favorite things, and you get a chance to get to know everyone a little better — and to leave with some pretty great gifts. This party is sure to become your new favorite thing to do during the holiday season.

For more fun ideas to get you through the holidays, check out these holiday party games and these budget-friendly holiday party ideas.