I can't imagine why. :)
Here are some ideas for homemade toys and gifts for children.
First, from TennZen, homemade marshmallow shooters.
These look really neat, we'll probably make a couple for our children.
Make Baby Stuff.com has several tutorials with patterns for sewing to woodworking and more.
Homemade Birdie Toy Tutorial
Wooden Puzzle Instructions
Doll Cradle Plans
Wooden Memory Tile Tutorial
Make Wooden Building Blocks
Doll Pattern & Instructions
Soft Blocks Sewing Tutorial
Felted Sweater Mouse Puppet
Waldorf Doll Instructions
Cardboard Playhouse Plans
Recycled Wallpaper Blocks
Even more toys:
Kool-Aid Dyed Playsilks
All Free Crafts has quite a few ideas for sewn, knitted and crocheted toys.
Stuffed Hound Dog
Corker Knitting Spool
This next one is not a toy but a book on toy making for children, from Homeschool Freebie of the Day.
"Home-Made Toys for Girls And Boys" (available today only)
Finally, if you're like us and think children have too many toys, I have an idea for you.
You can buy plain canvas totebags, purses, and aprons from Hobby Lobby (or make your own, but last year I paid less than $2 for a pack of three).
Decorate with fabric paints; freehand, with stencils or rubber stamps.
I have also used acrylic craft paint in place of fabric paint, it just has to be heat-set with an iron before washing. Be sure it's dry (it takes about 24 hours), use low heat and don't put the iron directly on the fabric, copier paper works well.
You can also use this idea for your children to make "handprint" T-shirts, pot-holders, or aprons for their daddy or grandparents.
We made my husband a T-shirt one year with both our children's handprints on it and "We love our daddy" written in freehand.
Happy crafting. :)