Well, the Naughty/Nice journal sounds more fun, but here's something my family has liked!
For the last few years I've done a "14 days of Valentines" for everyone in my family, and they really enjoy it.
Basically I just put a bow or a note on something small and leave something on their pillow each day starting on February 1st. Pretty much everyone gets the same things - a new pen, a little puzzle, a flower, a tiny box of chocolates.... I loved Tori's list below, and I plan on pilfering many ideas from it this year!
It's funny, because even a new antiperspirant becomes a gift if you put a bow on it, at least around here!