With 2 children I hate getting this stuff. I don’t need anymore plastic junk in the house. That being said, the best scenario which is not on your list is to combine with another friend and get something decent. If 3 people came together and got a nice 50 dollar gift it would be one item in the house as opposed to 3 and would be a lot nicer and probably used more in the long run.
We both do this and have had friends do tis for or kids.
BTW. I am all for no gifts at all but I have found that even if you say this people are going to give a gift anyway. Like a wedding ring. Totally senseless yet there is a social taboo for not participating.