Here's an action figure depicting what Gandalf looked like as a more powerful White Wizard. Gandalf is holding his wizard staff and also his sword which is called Glamdring. It is a 6 inch, poseable action figure so could be used for play purposes but is more likely to be used as a display piece - especially as this Gandalf is now out of production.
What about a Gandalf tankard or beer mug which is emblazoned with imagery from the movie. It shows Gandalf's rescue from the evil Wizard Saruman's tower by the great eagle. Another scene on the tankard shows Gandalf's fight with the Balrog. So two classic Gandalf scenes from the LOTR movies.
A really special collector's item is Glamdring which is Gandalf's sword. This is the sword he obtained in The Hobbit and kept with him during his escapades in The Lord of the Rings. It's a 47 inch replica sword with a false-edged steel blade, metal handle and genuine leather wrapped handgrip.
This sword is most definitely not a toy and is designed for adult collectors. While it doesn't have a sharpened blade, the tip is still pointed enough to cause damage. Glamdring is perfect for display purposes and looks very impressive mounted on a wall.
There are even more Gandalf Gifts you can browse from eBay.com below.