Remember that enormous batch of sugar cookies you made in lieu of holiday cards? Wrap a stack of those up in pretty cellophane and present them to your host. They can keep the cookies for themselves or share them with guests.
Wine is always the best safe choice, unless you know for a fact that the host or hostess doesn’t drink for medical, addiction-related or religious reasons. If any of the above reasons apply, a fancy bottle of a non-alcoholic beverage such as sparkling lemonade, a gift-wrapped bag of coffee beans or a canister of loose-leaf tea is an appropriate substitute.