Nepal is great for all kinds of handicrafts, textiles and artworks. Popular buys include clothing, embroidered items, Tibetan carpets, traditional religious paintings, hand-woven pashmina shawls, pottery, jewelry, traditional masks, puppets, bronze items, traditional knives, prayer wheels, wood carvings and traditional musical instruments.
Thangkas are traditional Buddhist painted banners. They make practical souvenirs as they are designed to be rolled up, so they are easy to carry.
Check with your local customs officials to ensure that you are able to import some items back into your home country. Australia and New Zealand for example have strict quarantine laws, so certain natural fibers may be restricted.