I found a woman in Darien who makes ceramic pumpkins and snowmen with the child's name carved on them (on the pumpkin, the name is where the mouth would be and on the snowman, it's carved into the fullest part of the tummy). They're unique and even though it's out of season, it's something you will display for years to come. Her website is http://www.ceramicscraze.com.
Our daughter loves the 2 gallon fish tank we got for her. It was not expensive and goldfish are really cheap and easy to replace :)
This year, we let our 3 year old pick out her own bed linens and redecorate her bathroom as a gift from us. We transitioned from the crib early, but maybe some big boy beddings are not too far off?
As for toys, the water/sand play tables have been a big hit in our house. Also, a bike trailer to go riding with us. Both your boys would fit in that-I think the weight limit on most is 100lbs.