Unsure what to get a recent graduate? Check the sale section at RedEnvelope. I like this trio of good luck paperweights ($18.99) or this chess and checkers travel set ($10.99). If your graduate merits a bigger outlay of cash, go for this lovely Buddha necklace ($68) or money-clip with built in watch ($44, engraveable).
Look at the lovely freshwater pearls on the necklace: