I'm not a fan of the meatal hanger so it's those thick plastic or wooden hangers all the way for me. I thought wooden hangers would be the best to decorate and in my head I had a few ideas - beads, sequins and tissue paper. I'm not sure I have had the desired results but this is a start on something I'd like to pursue.
I have looked at ways to include the hanger as part of the gift by wrapping the box ribbon to include the hanger.
In regards to a gift tag, I have looked at using a stitch design and needle which is great if displaying the item is important.
I think I'll come back to this one I have refined the designs and ideas!