We have always opened our gifts to each other on Christmas Eve and then Christmas Day is when we get the gifts that Santa brings. We still do this by spending Christmas Eve at my mom's. Since I got married, my husband's family always opened everything on Christmas Day, so he and I open our gifts to each other and the things from Santa on Day and Eve is spent at my mom's opening family gifts.
One tradition my husband and I started a few years ago is slowly opening gifts through Christmas Day instead of all at once. For instance, we'll get up, each open a gift, then have breakfast, watch a Christmas movie, open another gift, play a board game, open another gift. You get the idea
It's really great because it extends the anticipation and fun of gift-giving without having that one rush of excitement, followed by a little dissappointment that it's over.