I found a great way to save money when packaging a party favor - use lollipop bags!
At the last event I held, the guest of honor was a very spirtual person. As a party favor, I purchased mints from Oriental Trading Company called "Testamints". Each mint comes in a wrapper with a Bible quote on it. I purchased lollipop bags (used for homemade candy) to put the mints in. The bags were much smaller than standard sized party favor bags and came with a fancy twist tie. Twenty bags were only a dollar! Gift bags are usually very pricey, so using the lollipop bags cut costs big time. The ribbon I bought was on the discount rack at a local store - the perfect color by luck - two rolls were also one dollar. I made up forty favors for under fifteen dollars. Wow!