Amy from the Motherload shared lots of great gift ideas for boys last month. I especially liked this reversible Superman/Batman cape for my 3yr old son, so I put it on his Baggle wish list (if you haven't tried this free wish list service, you need to try it!).
Gramma bought it for him, and he's been wearing it ever since. So if you know a 3-6yr old who enjoys imaginary play, check this out! Walmart has their nice plastic Batman masks on sale for $1 - they have also been a big hit in our house!
They also have a princess cape set for the little girls in your lives. See this clever lady's full selection of items here.
Cost - $26
Big Bonus - easy to store!