But here are some ideas (thinking why would I take her advice after that diatribe above?):
I love this bracelet and it's priced well for a nice piece of jewelry. You can customize this by changing the charm (it can be done in other stones/colors). A nice keepsake is memorable. See it here.
l love these necklaces which make a wonderful gift. You can have one of these in every color. You can buy these on Etsy too. These are from L.V. Harkness in Lexington, KY. Great for the high schooler.
I don't think you can go wrong with Herend animals. If your graduate is an animal lover, all the better. These become keepsakes over time. The problem is which one do you pick?
Finding the gift for the male is a bit more difficult. I have stitched needlepoint belts for my nephews and they loved them, as they helped me select the colors and the pattern. If you don't needlepoint, you can buy them already stitched.
A great weekend bag is also a great graduation gift. Love this one from Orvis. See it here.