Your friends will be thrilled. People always love it when you make them somethng just for them. I used to do a ton of that when I worked and did office gifts. I did a lot of flowery stuff on boxes and baskets and whatevers . Other peeps loved it. Im not into that flowery stuff for myself. I kinda miss doing it tho.
Dont forget wrapping paper and wall paper and gift bags and flower catalogs and childrens books. Once you start looking you will see possible stuff everywhere. I liked to cut out individual flowers etc and do layered groupings on a plain background.
Another good cut out is those fabric panels that have a doll or a bear that you cut out and stuff. Wide border prints are good too. Also wallpaper borders. Some of the wide ones with the embossing are pretty spiffy. And theyre preglued.