Howsabout this?
At one point in my life, I sold women’s shoes at Neiman-Marcus and thought they were overpriced even then. I simply cannot comprehend $1700.00 boots unless they come with the complete whip and chain outfit.
Okay, a serious response (not that the irreverent responses are good):
Vera Bradley bags are still in, and you can pick one up in the $50 to $100 range. Personally – and no offense VB lovers – I think they’re, um, let’s go with “not very pretty,” because they look to me like Granny’s knitting bag, but they’re hot.
Scarves are also back, not the lightweight, “wear it like flight attendant” patterned kind, and also not the cable-knit “belongs on Frosty the Snowman” kind, but the medium-weight solid or striped kind, like these.
So there’s a couple of suggestions, but really it depends on what her style is and what she likes.
Good one, Omni! Bastard. Guess ya remember me.
Hey Stoli, what’s a pashmina?
I love you, will you marry me and keep me in those for ever?
Poking air holes is key, however.
A stud.
And yes, I take crumpled twenty-dollar bills.
It’s like a specific kind of cashmere shawl or stole. Because it is relatively simple, you can get a very nice one for not too much money, and it is a useful thing to have during the winter months. They’re also pretty, fancy, and soft, three things that seem to go over well.
Hmmm, maybe we could team up to offer a package deal and find someone to keep us both in matching Louboutins. 
I’ve been eyeing these myself.
Ladies, what’s the “hot” gift this year?
Guy here. You could get her the “hottest” gift…Angelina Jolie. She doesn’t want Angelina Jolie, you say? How ungrateful of her. Money doesn’t grow on trees, ya know. And since you can’t just return Angelina Jolie, I guess you’ll have to put your gift to use yourself.
Hmm, I can’t really think of any ‘hot’ gifts for women even in the past, unless they’re really part of the fashion set. What did Oprah give away this year again? Women seem to love the Wii, but it’s still pretty hard to find and if you’re a gamer she might suspect you’re getting it more for yourself.
(btw, Louboutins is among the most expensive designer brands out there, but their shoes are well-made and handcrafted - vs. outsourced to China (even if the D&G label says otherwise)- and they got famous by word of mouth rather than million-dollar ads)
If you want to go the Oprah route here is a list of her “favorite things” for the past few years.
Off the top of my head I can’t think of any “hot” gifts marketed to women - at least not in the way that Tamagochis, Tickle Me Elmo, Wiis and iPods were hot.
If all the radio ads I hear are to be believed, it’s diamonds. How stereotypical is that??
Does she have a hobby that maybe requires special tools? I’m a potter, and there are a variety of not-obscenely-expensive items which I would find delightful. Plus such a gift shows you really know her, and all that kinda mushy stuff…
An iPod shuffle pre-loaded with her favorite songs.
A digital photo ornament with photos of the two of you. It holds 70 pics, and they come 2 to a set. (Give one to another beloved family member.) My sister got one of these for herself and I helped her put the photos on it. It’s quite cool.
A digital photo frame is outside your specified budget, but I think they are cool nonetheless.
Tickets to a concert or event that you know she wants to go to.