1. SWEATERS. Most elderly people do not move around enough and are always cold so a sweater would be great they will enjoy it for years to come. The hardest thing about this gift would be what color. So look around and see what color seems to be their favorite.
2. EXTERNAL SPEAKERS. Elderly people will never admit that they are having a hard time hearing, so why not get speakers as a gift. Pick the kind that can be plugged in to the TV and set on a steady table by the elderly person's chair. You will most likely have to make some time to hook these up for the person you give them, since they will probably not be able to do this on their own.
3. FAMILY CALENDARS. Some elderly get forgetful, so I make calendars with family pictures, so they can see their loved ones daily and a schedule of new appointments can be kept in check. If you are not able to make this on your own you can gather pictures from the elderly person and take them to an Office Depot or most stationary stores and have the current calendar made for you.
4. TRANSPORTATION. Elderly shut-ins have a hard time getting to appointments so why not make a coupon book for transportation most will probably not call so you will have to make it a point to make your self available. This does not just have to be for an immediate appointment you can just take them for a drive. Or take them shopping. Or how about out to lunch. 
5. A HOME-COOKED MEAL. How about cooking meals for a shut in; they will enjoy it, and it only means adding a helping to what you are already cooking. Please make sure that they are not allergic to any foods and do not have dietary restrictions. Ask if they've been craving any special food or what their favorite food is.
6. CANDY. Many elderly have a sweet tooth, so a box of chocolate is always nice. But make sure you buy sugar-free for any diabetics on your list. Dried fruit would also fall under this gift idea. This can be bought at any food store. Or maybe you cook and want to make up a tray of cookies, candy or any holiday goodies you make this time of year.
7. HAND and BODY LOTION. Elderly people get dry skin easily, so lotions are always a hit. You may want to make sure they don't have a problem with a certain smell. Look around and see what kind they use or just ask them what brand of lotion they like. I genuinely think some shower gels to fall into this category because there are so many different brands.
8. LAP BLANKETS. If you are a crafter why not make up a lap blanket? The recipient will think of you every time they cuddle up with it. These can be crocheted, embroidered, knitted, or you can purchase them at most department stores. Again you may want to find out their likes and dislikes, or their favorite color.
9. AUDIO BOOKS. People love to read but some elderly cannot see well enough to do this, so audio books are a great gift. Just remember: different people like different things. Women may prefer Nora Roberts romance books, while men will probably prefer sports-oriented stories.
10. MUSIC CD'S or CASSETTES. Music is always nice; the elderly are a different age group and listen to older music. They have a hard time finding their favorites on a radio station so why not buy them a CD or tape?