So when my daughter lost her first tooth I had put some thought in how I wanted celebrate. The result: her tooth-faerie doll and cards. I bought a cheep fairy doll (hers happens to be Barbie) and told her that as long as she had it we would play faerie every time she lost a tooth. The Faerie leaves not only a quarter but also a small card where I write the date and which tooth was lost.
Charry has been very diligent leaving her tooth and doll on the bookshelf before bed each time so she can get her quarter and her card. In fact after the first three I skipped the card because she didn't seem interested so she made a special request that I not forget the card this time.
It's always nice to know your kids appreciate what you do. And besides making Tooth-faerie cards is a fun way to use up scraps and the extra embellishments that I always have laying around.