Binoculars make a great gift for any kid (or adult). They really do change your perspective on this world (literally and figuratively) and beyond. Space.com posted a guide to the best real binoculars (not toys) that are lightweight, durale, and small enough for kid hands. Their #1 pick is the Celstron Cometron 7×50 that are currently $35 on Amazon. From Space.com:
With 7x magnification and 50mm objective lenses, these binoculars — which we thought were remarkable value for money in our Celestron Cometron review — are an ideal size for a beginner's introduction to stargazing. What's more, their optics are multi-coated and include a stargazing-centric Porro prism. They also have a large exit pupil, guaranteeing maximum light at night and dawn/dusk. As a bonus, they can easily adjust to suit smaller faces.
There are a couple of downsides to consider. They utilize step-down BK7 glass (not the preferred BAK-4), the aluminum-cased Celestron Cometrons are not waterproof, and their covering lacks a premium feel. However, parents care about such things more than children do, and the Celestron Cometron are such good value that it probably doesn't matter if they eventually get left out in the rain or accidentally dropped and break.
Celstron Cometron 7×50 (Amazon)