K.U.
My cousin got me the pink "Pancake Bear" from North American Bear Company and that has been DD's "special lovey" since she was 6 months old. I also loved my Boppy pillow and the baby swing, but those probably would not fit in the basket so well.
For friends and family that have babies, I like to put together a "get the baby to sleep kit" with:
pajamas
sleep sack
blanket
stuffed toy
CD of lullabies
story books and board books
lavender-scented baby wash
rubber ducky
diapers and wipes
Butt Paste
Aquaphor