When I was little, my mom would make cross-stitched Christmas ornaments for my teachers each year. It was a tradition that lasted through grade-school, at least, and I can remember being excited to pick out a cross-stitch kit for each teacher each year.
Last year, I knitted hand warmers for the Kid's teachers. Continuing the tradition--and getting a good jump start--this year I'm making cowls. (Pattern and yarn info.) I love the idea of doing a little handmade something, and I hope that as the Kid grows up he'll help me pick out yarn colors and patterns for all of the awesome people who help him learn every day.