I would have to say mine was the Xbox i got when they first came out... i was pshyced. I still have it today and still play it too... Maybe my next favorite gift would be some Dixie horns my brother got me for my truck like two christmas'* ago. We installed em in my truck and i had some fun with those (still havn't figuredout how to install em on the bonneville though)
I'd have to say my favorite recently was the stereo for my car that my parents bought me last year. It was awesome. Other than that as a kid it had to be the Power Wheels Pink Jeep. I thought I was top dog cruisin around on the sidewalk in that thing.