I'd say, an unbreakable baby's first christmas ornament (so he can have it on his tree some day). I'd say one of those baby's first photo books with pictures special people in your baby's life. Especially any important people who don't live close. Also, I belive Fisher Price has a nativity group of Little People. That would be a wonderful toy that you can use as a fun way to educate your child about the meaning of Christmas down the road. For now, it's ok if baby Jesus gets chewed on. :)
We put special baby food in the stockings... dessert style food. But your child will not be old enough to enjoy that for a while. I understand the desire to put something in there... maybe just use high contrasting tissue paper and make pretend gifts. Kids always love the wrapping more than the gift for the first 18 months anyway.
Good luck and enjoy the time with your baby. That is the most precious gift you can give. That and show him the excitement of all the decorations, drive around to see lights and look at the details of the Christmas tree ornaments, etc.
Liz
ohh, this is a great year to give gifts from your baby. Handprint pictures in little frames... Mini photo ornaments with his picture in it. It is a great way to do some fun and inexpensive things that your receipients will LOVE.