I think its an spontaneously idea. I don't know anyone who gives their boss christmas gifts, but its realy not foolish. I found a site about it: http://www.wikihow.com/Choose-a-Christm … -Your-Boss
You won't look like a fool, but coworkers may think you are playing office politics games. The best way to do something like this for your boss is to get all employees in the department together, and whoever wants to participate or pitch in can do so.
I always took my employees out for a Christmas party/ dinner, but never expected anything from them in return.
I would never buy my boss a gift, but I do buy for those that work for me. It's generally not done, it may be seen as unethical or as if your trying to get an unfair advantage.
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