Package a collection of marshmallows in a plastic bag, and tie with curly ribbon. Place bags of marshmallows in oversized mugs along with packages of gourmet cocoa.
Check out the cookie and canapé cutters in craft and gourmet kitchen stores for fun new shapes. For more holiday flair, drizzle marshmallows with melted vanilla candy coating tinted with paste food color. You may want to let marshmallows air-dry, and then string them on fancy cord as holiday garland.