When it comes to gift giving for the holidays, beauty items are often the best to give and receive. They are a great way to pass along your favorite items as well as a great way to try something new.

Some of the best cosmetics companies out there, from Benefit to NARS to Smashbox, have put together some wonderful gift sets this year. Give (and receive) the gift of beauty with these items!

For those of you like me who love to both give and receive beauty products, now is the time to shop. Due to the economy and the season you can find deep discounts on all kinds of items that would make perfect gifts. Here's a selection of some of my favorites that are available at great prices of $40 or less.

Buying for a lipgloss lover? Gloss is a great gift because packages come with multiple shades that are universally flattering, no matter what your skin tone or style. Three of the best sets this holiday season are the Peace, Love & Glossiness Lip Gloss Set from Benefit Cosmetics, the Lip Gloss Collection from NARS (which is a Sephora Exclusive), and the  XXX Shine Stash from Urban Decay.

Eyeliner sets are a great gift for that creative friend of yours. Three of the best this year feature a wide range of colors. Everything from basic black to purple to bright blue. Check out the Boogie Nights Eye Pencil Set from Cargo and the Travel Size Set of 5 Eye Pencils from Urban Decay.

Sets that contain everything are one of the best things to give and get. They come in all kinds of styles, from those focusing on eyes to those that cover all of the basics. Sets tend to be filled with best-selling items, which means that they are also univerally flattering shades. Check out the 24K Sexy Gold Set from Benefit Cosmetics, My Party Kiiit from Sephora Piiink, Best Of Smashbox from Smashbox, Trend Look: Black Is The New Black from Stila, and the Glamour Eyes Kipling Makeup Bag Collection from Too Faced.