Both actually, like this year I had four mugs with no box to fit. A long mid-sized gift bag was just right. I wrap virtually everything then use big gift bags to sort for each person or family. The kid's presents are wrapped and boxed till Christmas Day. Things don't go under the tree...too easy for a dog or cat to take a whizz on them.
Thirty years ago I did a holiday display in the local library on creative gift wrapping, but that custom has fallen by the wayside. I hardly see hand-wrapped gifts anymore. It seems everyone has taken to just shoving their gifts into decorated bags. All part of streamlining the holidays - like the trees you can buy already decorated. It's taking the joy of creativity out of Christmas. People appear not to want to be bothered with anything anymore, especially holiday things. Even the Christmas eve service at church was only 40 minutes long. Everyone, even the pastor, seemed in a hurry to "get it over with."
I carefully wrap all my gifts, even those that are edible. I have various crafting scissors with different patterned blades, this allows me to design cut outs, patterned paper edges etc. Simple but elegant personal touches to share with those I love. Sometimes, if time permits, I will design matching gift tags.
My grandmother's Christmas presents used to be works of art. She would slave over the wrappings and fol-de-rols and we'd just rip into them like they were swatched in newspaper. A bunch of little barbarians, we were.
An ex sister in law always attached a small tree ornament to each package. I always thought that was such a nice touch but I was not motivated to do that myself.