I just added a listing for Gift Certificates to my Etsy shop. I think I broke the rules doing this - so I am hoping that they don't take it down. It seems like a great idea!
It works like this- someone pays for the gift certificate using Etsy
They immediately have a digital image of a generic Gift Certificate
I create a coupon code just for them in the amount that they request.
I customize a printable Gift Certificate with the amount, the recipient's name, and their own coupon code to use in the Etsy shop.
If they prefer to use it toward something in my studio sale then I will apply toward that purchase instead. Easy? I think it will work wonderfully and be an easy option to give my artwork as a gift when you aren't sure what the person you are buying for would want.
Please leave me a comment if you can think of a way to improve this system!