R.F.
You can treat a bris the same as a baby shower - you can buy a baby gift.
Other ideas are money -
http://judaism.about.com/cs/judaismbasics/f/number18_why.htm
When my daughter was born, the owner of the company planted a tree in her honor - https://secure2.convio.net/jnf/site/Ecommerce?store_id=31...
Mazel Tov to your friend :)