For the last few years, I've made it a tradition to cook an extra special dinner for us at home to celebrate as a family and I decorate the home a little with Valentine's Day party decorations. I also have the children make special Valentine's Day cards for their dad. Last year it involved cutout red and pink tissue hearts pasted on white cardstock and a photo of each of them in the center.
Even though my husband and I have agreed not to purchase gifts for each other, we do exchange cards and we sometimes may break the "no gift" if we see something that is within our budget and we know the other would really enjoy receiving. Honestly, though, I'm just as happy not receiving a Valentine's Day gift if it doesn't involve diamonds, champagne, or a lovely bunch of flowers, most of what he has gotten ends up getting donated. I mean, really, how many pink stuffed bunnies does a grown woman need anyway????