Open up a utma for them lets you invest but not pay high capital gains tax (If in the USA)
https://www.scholarshare529.com/learn/how-does-a-529-plan-work/
We did 529 account and will be sharing the Gift contribution link on the party invite if anyone wants to contribute. Also like the physical experience gift idea. We had a friend gift us a annual pass to our local botanical garden and it was nice to walk while pregnant and then share with our LO now that they're here
A favorite kids book
There's also recordable books
We've decided to do experiences instead of physical gifts for our kids. On my son's first birthday our church is doing a chicken BBQ so he'll get to have a special meal and get to try buttered potatoes for the first time 🤤 My daughter will be 4 this year and we're going to take her to her favorite playground and have ice cream. When they get older we're planning on taking them to the toy museum, or the ocean, or concerts, things like that ☺️