We didn't make our teens cache for their Christmas presents. One is anti-caching--- teen rebellion, I think, and if that is how she wants to demonstrate her autonomy, I'm fine with that... Certainly, there are much worse things she could do! We did find some swag that ended up in her stocking, though! shhh.
On my birthday, my son hid his gift to me in the backyard with coordinates for me to find it. It was a large Lock 'n' Lock filled with smaller Lock 'n' Locks and little items that I could use for swag. I thought that was really special, and I'll always remember it as one of the best gifts ever.