I'm not entirely sure how this would work as a Valentine's Day gift as this While Lies lingerie set is just a pattern and yarn, but Joan McGowan-Michael's beautifully understated designs may well be worth the effort. Sadly, the only thing for boys are these sweaters.
The patterns are about $7 and the recommended yarn kits run from about $20-$60. Oh and there's a free pattern available on Knitty, the Betty garter.