i wrap mine all different ways. one of my fav's is to take a small gift bag (typically you can get them for about 50 cents - from party city or other "party" stores or from the dollar store. i cut the goofy string handles they have on the bag. then i take ribbon and weave it through one side and out the other. i fill it with paper shred, put the gift card in and then shut with the ribbon making a pretty bow. i use ribbon that has wired edges so i can shape the bow to make it look super nice. i love them like this and so do my clients. i usually add a "to/from" gift eforum.xxx on it and at x-mas i'll add a bell. they look really, really nice.
i am always out and about looking for cute ways to wrap my gift cards. i look for gift card holders they sell in stores (target, jo ann fabrics etc), or other creative things from the dollar store and other places. around the holidays the dollar store sells small boxes. they are 2 for $1 and really nice, sturdy, cute boxes. i fill them with paper shred and tie shut with a bow made from ribbon. pillow boxes are actually really cute depending on how you "tie" them shut. ie - i'll take raffia of different colors, wrap it around and tie in a bow. looks very festive and unique! sometimes it's not so much the "holder" itself but how you decorate it with something extra special. i'll try to take a pic of some of my examples so you can see what i mean! have fun with it! look through lots of catalogs and books to get ideas.