My daughter is four and I know that kids her age (especially little girls her age) would appreciate something girly or princess-like. You can either opt for that or for the educational route. My husband is all about education so he likes to buy our daughter books or things she can have fun with but also something she can learn while playing. We recently purchased a "Bugsby" for our daughter which is similar to a Leap Frog. It's slightly lesser expensive than the Leap Frog but she'll enjoy it because it's something that not only can she do on her own but her parents can join in on the fun as well.

I love gifts that my SIL sends.. they are home made. For Christmas I got bath teas and they smell DIVINE!!!!!!! (I haven't even used them yet because I just like the smell of them). 3 year old girls LOVE dress up. Make up a princess dress up gift (thrift stores are great for stuff for this), or funky beaded jewelry. But please stay away from the dollar store, most of their toys are covered in lead paint.

You could always get homemade coupons... Like, a coupon for the mom and dad to have a date night while you go over and watch the kid for them. Free babysitting for them, and fun for her. Win-win.
Or a coupon for the girl for a girls date day, where you can take her to the park and have a small picnic and play games or some such. :) Or even a day to just come over and bake some goodies with her. What do little girls enjoy better than baking and getting to decorate what they baked? ;) Those are cheap, heartfelt things. I'd like stuff like this for my kid one day, when I get to have one. :) Hopefully sometime after we get a house of our own, ideally. :)

Let us know what you decide to do, okay? I'm always on the thought market for cheap but heartfelt gifts. :)

<3, ~*Akarui Mitsukai*~

You should google it -- there are lots of moms that have blogs on this very thing! You can find some wonderful craft ideas :)

why not a piggy bank. I saw a decent size one at target for $10. and then add $$5 in change in it. It's cute and practical and teaches them about saving money.

cute blanket

my sister-in-law gave me a doggy stuffed animal that squeaks with a rolled up blanket connected to it. it was actually a dog toy but it was funny and i loved it. :)

make her something! there are tons of resources online that would be a perfect idea for simple gifts.for example,  i just made a couple of bows for 29 CENTS. 29 cents for a "sheet" of felt from michaels, a need and thread i had, and bobby pins, which you probably have around. if you want a couple of colors, it'll still cost less than a dollar. then put them in a little box, which you can also make, and ta da. cute bows, and i bet you'd even save one for yourself.

http://sewgorgeous.blogspot.com/2010/02/tutorial-felt-bows.html

you can't go wrong with getting her a pillow pet. they're amazing.

@stonewhite@xanga - That's exactly what I was thinking too.

Hm... there is an endless array of gifts that would be just great for any little girl.  I agree with some of the comments - dress up princess-y stuff can be so much fun!  Any kind of pretend play toys are great (my 3-year-old loves all the Melissa & Doug play food and shopping cart)  However, "meaningful"? 

I can't think of all the different things they've gotten offhand, but one of the gifts I really enjoyed for my daughter is a subscription to Babybug magazine (more like a little book; there are different choices for different age groups) from her Meme, and Highlights for Kids magazine from her grandma.  They are both fun and educational, and she enjoys getting them in the mail.

One of my daughter's favorite things to date has been the Cloud b Turtle Twilight Constellation Night Light, and she has it on every single night.  It could go nicely with a lullaby CD, bedtime story book, little blanket, what have you.  I just got a Zoobie Pet on sale to put away for one of my kiddos - it's a toy, blanket, and pillow all-in-one.  Genius!

I just posted a Valentine's Idea for altering mini mailboxes from the Target dollar section - that could be really sweet if you decorate it yourself, then fill it with some small items. 

Good luck, and I'm sure she'll enjoy whatever you end up getting! 

Your favorite children's book (from your childhood). Paperback is perfectly acceptable.

Or a card with a  little note stating you'll take the b-day girl out for her own ice cream cone/trip to the park at a later date. It's the thought that counts, not the size (or the amount) of the gift. YOur heart's int he right place.

Now I really want a little kid to get these things for!

All kids inherintly love art. I like the dollar store idea: why not get a small basket/bucket or bin and fill it with water color paint, crayons, stickers and some side walk Chalk. You could even add some constuction paper, stick glue, google eyes and pipe cleaners. Make a card out of crayons and punch two holes and tie a ribbon through it and write something like "I hope you color the world on your 3rd Birthday" or "A picture is worth a thousand words- Happy Birthday" or something of that sort. Some clear plastic gift wrap would really top it off!
Check out stores also like Micheals, Hobby Lobby, and Tuesday Morning for sales. I think you could put it all together for $10-12 Easter is coming soon so you could prob find a pink basket and Target has the 1$ goodies at the front of the store.