All of the Too Faced palettes are under $40 and come in the prettiest packaging, so they would make great gifts. I have the natural, naked, and in your dreams one and they're all great.
Right now Nyx has a TON of their palettes like nude on nude on Hautelook for really cheap too, but only for one more day. If you lurk around/check that website daily they usually get great brands like Too Faced, Stila, Lorac, Urban Decay, and some mineral brands that look nice.
My favorite eyeshadow palette in the entire world ever though is the Lorac Multi-platinum palette, it's $37.