I just got back from a two year old birthday dinner. In the spirit of get 'em while they're young and you'll have 'em for life, I tend to give my friend's kids books as presents.
Last year, for his first birthday, I gave the birthday boy a book. One year later, after apparently being read every day (and no, his parents don't hate me yet), it is looking well, appreciated.
This year I gave him Diary of a Wombat (which is hilarious). Let's hope next year it, and his other books, are looking just as well loved.