Small key chains are inexpensive, useful and decorative. Choose key chains in the shape of a cheerleader or a megaphone. A durable plastic chain is a good medium for printing a message or commemorating the competition. Rubber key chains in the shape of the number "1" encourage the girls to give the competition their best effort. Wrap the key chains in colored tissue paper and tuck them into pretty gift bags, which you can buy very cheaply at a dollar store.
Stuff goodie bags with decorative hair accessories. Cheerleaders use inexpensive silk ribbons to make hair bows, glue them to hair clips and tie them to elastics. Other hair accessories cheerleaders can use are ponytail tutus and mini pom poms for their hair.
Give your squad some colorful shoelaces to wear and show their team spirit. Alternatively, give them each a pair of athletic socks with their squad name printed on the ankle.
Some cheerleaders enjoy painting their faces during games and competition. Give the girls a tiny face painting set so they can show off their creativity. Give paints that match your school or organization colors and include a tiny face paintbrush in the kit. Bag it all up in an iridescent gift bag and tissue.
Have headbands printed with your team name and logo. Girls can wear them during competition to keep sweat from their eyes. Add wristbands for a matched set. Choose wristbands that have tiny zippers for holding change or a key. Get a pom pom or a megaphone printed on the wristbands.
Cheerleading Music CD
Give the cheerleaders a music CD featuring songs from your competitions. Place songs you have cheered to in the past on the disc as well as some choices for the future. Customize a CD label using a picture from one of your competitions. Add an encouraging message to the label like, "For the Number One Team!" Place the discs in decorative cardboard boxes and add them to the goodie bags.
Hard candy such as peppermint, butterscotch and cinnamon makes good extra filler for gift bags. You can also include chewing gum.