A membership to Jenny Craig. Yikes!
Tickets to a monster truck rally.
Lingerie. That is a gift for YOU, not her. That would be like her buying you a Kitchenaide mixer or a blouse from Banana Republic.
Clothing that is too big in size. Ouch! Guys, make sure you know her clothing size. Raid her closet, talk to her sister or best friend, but do NOT just guess.
A framed picture of yourself. How narcissistic can you be? There is an exception to this: if you know she wants it and it's a dang good photograph of you.
Derek Semmler of SparkPlugging.com gave a two VERY good ideas of how to pick the right present for the love of your life. #1 - LISTEN TO HER. Now there's a novel idea. Stop watching Sports Center long enough to catch any hints your wife may drop. In addition to Derek's comments, I will say this: listen with your eyes too. When you are at the store (even six months before Christmas), watch what your wife gets all giddy about. Pay attention to this and write them down as soon as you are out of her sight (and hide the list where she can't find it).
#2 - ASK HER. She may just tell you several things that she wants and be okay with it. You should know your wife well enough to determine if this is the right approach to take.