Most people around here stop in 4th grade when the kids typically have teams of teachers.
Also, it's more common for the room parents to collect from families (whatever they can afford, with a suggested nominal donation) and buy one gift from the class. That also helps take care of music, art, gym and other specialists who routinely get left out.
But our town also set up an Education Foundation so that families can make financial donations in the teacher's name. All teachers can then apply for mini grants (usually $250-$500) for special classroom projects that aren't in the main curriculum or supplies they couldn't afford otherwise. There's a joint public/peer review committee that chooses the amounts and the recipients. The Foundation and the local media print a list of what they've supported and it's just fabulous to read the unique things that allow teachers to express their own creativity to expand opportunities for our students.
It's really hard to buy individual gifts for teachers when we don't know their wishes and tastes. When I was teaching, I appreciated the thought but often struggled to know what to do with all the little knick knacks, and the gift cards always had money left on them or required me to lay out my own cash to use them. Even a very generous $25 restaurant gift card required all of us teachers to shell out more money if we wanted to go with out spouses. And sometimes people gave cards at places that teachers might dislike or be opposed to (say, Walmart), so that made things complicated. Many teachers wind up re-gifting what they get, too. It's a conundrum.
Good luck figuring this out!