When swapping gifts through a large exchange, like a Secret Santa, Senning said to keep the whole process relatively inexpensive.
"You really want to get something fun," she said. "You don't want to bring something that's going to risk offending somebody."
If you are giving gifts to one or two close friends in the office, Senning said, exchange them outside the work place.
And don't think about giving to your boss.
"You don't get into giving gifts for your boss," she said. "It looks like you are trying to curry favor."
If you feel you need to give something to the boss, do it as a group gift from the entire office.
Louise Fox, owner of The Etiquette Ladies, added that "your gift to your boss is doing your job well year-round."
Considering the ongoing financial situation, people shouldn't expect to get gifts, she said.
"A person is not meant to spend more than they can afford," Fox said.
Bosses who give gifts to administrative assistants should think carefully about their gift choice, especially if the recipient is of the opposite sex.
Her advice: stay away from lingerie, perfumes, roses and clothing.
"The key is to use some social intelligence, common sense," Fox said.
Also steer clear of personal items or gifts you might think are humorous, she said, such as a blow-up doll.
"They usually fall really flat," Fox said. "Other people don't quite think they are as funny as maybe you do, and they can send a very bad message. Maybe you just make a big batch of cookies and give each person a nicely-wrapped take-home box."