You certainly don't need to spend much--for one of my daughter's early bdays, we gave her sand toys from Dollar Tree. She got presents from grandparents, aunts and uncles, friends at a party; there wasn't a need for more stuff. She could use a few toys in her sand box, and they didn't take up any room in the house, and we spent almost nothing. :)
We did a personalized backpack one year for a very young niece. It was supercute and very practical (her parents could cart her stuff around in it) and one less toy to have around.
If you are looking for something special, you might try some websites that have cute personalized things for her room or something like that.
If she loves to draw, they have a very inexpensive easel at IKEA (I assume they still have it--the last time I bought replacement paper there was a year ago). If you get it, make sure you buy the paper that goes with it. If you want to spend more, there are better quality easels elsewhere.