Choose a theme and a pretty basket to present it in. Pink, blue, green, yellow? You decide. Purchase layette items to match the nursery theme or go off on your own.
Purchase something cashmere. Cashmere is the ultimate in luxury and it can be as simple as a hat and bootie set, or as extravagant as a blanket. Ralph Lauren has an excellent selection of cashmere baby items.
Pick your favorite pair of Robeez. One of the best shoes for infants, these slip on and off, come in a variety of colors to keep them stimulated, and are soft and warm.
Choose organic onesies and sleepers. Organic cotton and soy fibers are soft against the skin and better for both infants and the environment.
Buy size one diapers. I know this isn't a clothing item, but it's a basic necessity for newborns. Don't purchase newborn diapers because babies grow out of them so quickly. Size one diapers ensure that the new parents will have plenty of opportunity to use them.
A gift card to the new parents favorite haunt. Maybe it's a diner down the street, or maybe it's the trendiest eatery in town. While not a necessity for the baby, a night out alone is a necessity for new parents. And happy parents make for a happy baby.