Before my daughter's first birthday, I decided to give her something each year that wouldn't just be tossed the next year when she got too old for it.
We gave her the usual toys, but I also ordered a custom charm for a future charm bracelet. I searched etsy.com and found someone's work that I liked who was affordable. She made soldered pendants about 1-inch square. Unfortunately, her etsy shop is closed, but there are many other sellers doing similar work. A brief search discovered Rock-N-Mama Designs, Beloved Creations and Tickle Me Pink Boutique.
For her second birthday (which has already passed), I plan on making her a Scrabble pendant using the instructions I wrote about June 1. A friend passed on some discarded Scrabble tiles she had around. The tiles are random, with no rhyme or reason to their letters. But I thought using one that's score is "2" might work well.
Once she's older, she can continue to add charms based on special events in her life: high school and college graduation, trips, wedding, children. Think of it as a gift that keeps on giving.