We do traditional first- and last-day of school pictures, but I always try to have them wear the same clothes so we can really see the comparison.
My son's school has a lot of teachers and this year the parents pooled their money to give them a few little gifts and gift cards. Nothing homemade... but maybe next year?
But for my daughter's teacher, I made this little customized canvas bag. I think it will be pretty handy and I love the floral fabric my daughter chose for the letters.