Do you guys know about Baggu?
Yes, their website design is impeccable, but really they are in the business of making lovely bags. They started with nylon ones you can roll up and save for shopping, (above,) but they've expanded their line to include other bags, such as this swank backpack as featured in none other than the Sartorialist:
Anyways, they made this handy tutorial about wrapping presents with Baggu bags. It reminds me of Japanese furoshiki wrapping, but even easier:
So simple, right? Two presents in one!