Lip palettes and kits are some of the best gifts. Find something in a variety of shades and there will be something in there to make your gift recipient happy. There are also many to choose from. Here are a few suggestions:
For the young or young at heart: The Sugar I Scream 4 Sugar Mini Ice Cream Flavored Lip Gloss Palette (below) is a tasty collection of pretty lip gloss shades.

For the natural beauty:
philosophy the supernatural luscious lip palette, superwearable (below) is a palette of beautiful neutral pink shades that are very wearable for most skin tones.

For the charitable woman: Give a gift that also donates 100% of the proceeds to a good cause. A
M.A.C. Cosmetics Viva Glamorous Lip Palette is the perfect gift. The pretty case contains three beautiful holiday shade. All proceeds go to the M.A.C. Aids Foundation.

For a girl on the go:
CARGO Lip Gloss Quad Lip Palette, South Beach (below) fits nicely in a purse. I love cargo gloss!

For the woman of refined tastes: The
NARS J. Mendel Fall 2007 Collection Lip Palette is a gorgeous palette of deep and luxurious shades. This is limited edition, so get it while you can!
Comparison Shop for Lip Palettes

[...] Shopping Lists: Holiday Lip Gifts Part I: The Small and the Cheap! Cosmetic and Makeup Palettes Make Great Holiday Gifts: A Shopping Guide. Makeup Brushes and Sets That Are Perfect For Holiday Gifts. Makeup and Beauty Accessories for Holiday Gifts. Holiday Lip gifts Part II: Lip Palettes for a Variety of Women. [...]
Oh, the I Scream 4 Sugar gloss set is adorable! And the NARS palette really is to die for! Thanks for sharing!