Love it! We did so many things with the kids when they were small. there is no room here for it all so I will give you just a couple.
After they went to bed on Christmas eve, and making sure they where asleep I would start with the extra special decorations! Sparkling snowflakes were hung on silver threads from the ceiling above the breakfast table. The table set with Christmas dishes and napkins. Each bowl containing their decoration for that year. Santa footprints made from baking soda (easy to clean after) led from the fireplace to the Christmas tree. The tree would suddenly be magically covered in sparkling tinsel and all lit up when they came down in the morning. (we would have already decorated the tree with the kids earlier, minus the tinsel of course) Stockings were stuffed and hung on the ends of their beds (kept them busy awhile in the morning so we could take some more time to wake up while listening to their squeals of delight!) We would then sit by the tree while one gift was given to each. They opened it up and then we had breakfast. After breakfast stuff was cleaned up we opened one more gift. Then we would be off to church. After church one more gift was opened and then all the goodies brought out and put on the table (crackers and cheese, saugeges,assorted baked goods, etc. etc. along with egg nog and punch. We would enjoy this light lunch together before opening another gift. The afternoon was spent either playing a game and visiting with friends and family. Just before dinner we would open what ever gifts were left to open. After dinner was done and cleaned up, the guest gone our very sleepy family would enjoy either a story or a movie together. We always would carry them upstairs already asleep and tucked them in for the night.
I just read all this to my daughter and she is laughing in delight over all these memories (she is 22 years old now)
So have fun with them and build those memories, it does not take long and is so worth the effort!