At my last job we did not exchange gifts. I just started a new job begining on November. On Wednesday my group had a little Christmas party- cookies, cupcakes, hot chocolate. One of my coworkers gave out little gifts to everyone, even me. So I then brought in cards and little $5 boxes of chocolate for everyone yesterday. Today my boss's boss came around with boxes of chocolate for all of us, and another coworker gave out little gifts- lottery tickets. I think it is fairly typical to do something with co-workers, but small nothing big.
If I were you, I might give out cards and something small (like candy) or bring in a box of donuts for the group on your next work day.