Over the years, my bookmaking phases have come and gone, but whenever I do get up the gumption to make a few, they are always for giving. They make such great gifts because they are easily customized to the age/gender/preferences of the recipient. This year, I am making a bunch of small sketch books for the kids on my holiday list (like the green and brown book). There may be a few for the grownups, too, because I love that floral paper and have the urge to use it. It makes me think of Florence, though I have never been there.
Last year, I made a few as gifts (pictured below). One was bound full of musical notation paper for "A," the other is a very precious portfolio of artwork worth sharing in its own post (coming soon).
I had originally planned on doing a handmade book tutorial, but after remembering just how many steps are involved, I decided otherwise. Here are a few links for you instead:
Make your own Moleskine-like book
Make a ribbon binding book
Make your own journal
Make an accordion book
Bind with a Japanese binding (which is pictured in the books I made)
How to make a sketch book
A great list of resources (books and online) here