I think it's a great idea! A girlfriend of mine was recently married and gave everyone Kate Spade wicker clutches... it was so cute to see all of the girls/bags together at once!
I was a bridesmaid for a friend and received a purse. It was the nicest gift. It worked with the dress and is a great clutch that I have used since then. I think jewelry, while the typical gift, is way too subjective and open to people's different tastes.