Knit a special item your the child (or children) in your life to give alongside a special book. For example, for toddlers, knit a simple baby blankie to give along with a book of bedtime stories. The blankie will make bedtime extra special. For older children and even teens, knit a lap blanket.
Knitting Pattern Central has links to every sort of pattern you could ever with for: teddy bears and toys, slippers, pillows, and clothing. There's something to knit for every kind of book.