I have not bought Christmas wrapping paper for over 15 years, preferring to recycle what comes my way. But make no mistake, I'm really picky about what I choose to keep for wrappings.
When we first moved into the Dusty Victorian, we found in the attic leftover rolls of embossed wall paper. This paper had been used for the library room, painted brown and glazed over. In its original state, as you can see, it's creamy white, thick, doesn't have any coating of glue at the back and feels cottony. It's perfect for making little gift boxes. Throughout the year, I keep interesting boxes to be used as templates. Because the wall paper pattern is so beautifully textured, it doesn't require any addition wrapping, just a pretty ribbon and... voila.
Not too shabby, I think, but very chic.