My kids are still young, not yet 2 and 3.5, so we are just getting traditions going!
They make a cookie house with their grandparents. We are doing an advent chain link, and the elf on the shelf. We use to host xmas eve, but I am instituting movie family night (so xmas can be about quality time, not mommy cooking!)...Xmas morning we have homemade cinnamon buns (which I make multiple recipes of to give to neighbors and family).
I will also do one of those Santa videos for the kids, and letters to Santa. We might do a breakfast with Santa event, I can't decide. We will make lots of homemade cards and ornaments to give as gifts, and my daughter and I are making special gift bags for her preschool co-op.