we did this on elfster last year, but actual gifts, not ornaments (thanks kb for my earrings!!!). i think our limit was $20? there were some AWESOME gifts bought (i'm still in love with what i think amanda bought for karimychel? the replacements/equivalents book). i'd be up for doing it again!
we should definitely set this up. i'm sure we'll get enough participants! kwpn, do you want to do the legwork on elfster? it's pretty simple. or i can do it if you don't want to.