What would be a meaningful gift for a 5 yr old and a 2 yr old??

I think the meaningful gift in the sense ,first you should know what they like .Since you said they are your friend's kid you can ask to your friend what they really like .So they will really feel very happy and appreciate your gifts.And for the two year old baby you can present any toys .

for a 5 year old a [b][/b]Zapak game card will be a good option if there is a computer at home. A toy laptop is also a good option if it fits in your budget. Puzzles, science kits for (5-6 year old science kits are available in large toy stores), erasable magnetic slate.[b][/b] Two year old will get excited with a hit me doll, ant toy make makes a noise when squeezed, Siple toys that run when pushed & anthing they can create a ruckus, eg: drums, trumpets etc.this will not make you popular with their parents though.