If you go the knife route I'd suggest an EDC pocket knife.
I got my groomsmen engraved Kershaws. Everyone carries/carried them. One belongs to the TSA and the other is somewhere in San Antonio after Michigan's final four appearance.
I got a custom buck 110 that only goes to deer camp out of obligation (grooms family camp). It's heavy and fancy.
I'm getting married this summer and am getting my guys Filson bridle leather belts that will be engraved. Figured that would be something they could use day of and for many years to come.
I gave my Groomsmen a light weight knife set...I forgot who made it. But had like a 3", a caper, and a gut hook or small saw (it hasn't even been two years and I can't remember crap). but it was pretty cool because 4 months after giving it to them 2 of them were hunting with me and one killed a Pronghorn and they both pulled out the small kits from their packs and loved using them to break down the goat. Then last year I took my Best Man out for his first western hunt and he killed a great first Mule Deer buck and used his to help break down that deer.
Hopefully you don't have 10 groomsman like the trend seems to be these days. I had 3 and could afford to spend a bit more on them which was nice.
The best I’ve got was a nice flask that I used I ton until one of the welds started leaking. The only one that I’ve seen that made me jealous was a friend got a benchmade bug out. They’re over $100 but maybe if you buy bulk they’re cheaper. A quality edc knife is something that a lot of guys won’t buy for themselves but would greatly appreciate.
I got mine some Kifaru bags that are the perfect size for a shaving kit. Kifaru embroidered their names on it. It's fun to see on trips that they are all still using theirs.
I got my guys leatherman tools and 23 years later they are still going strong. I've gotten monogrammed yeti tumblers (love it) and engraved duck and goose calls....
I did yeti cups with their initials engraved on them and dress socks with ducks on them. We are all duck hunters but also have to dress up from time to time. They loved it. I also paid for their suit rental as well.
I was in a wedding that we had to pay for rental, bring our own beer getting ready for the wedding. We had to be there 6 hours before the wedding started and he had zero activities planned and gave us all nock off yeti mugs. None if us were really happy. He kept saying he was so pumped that since we all rented the suits he got a free suit to take home. We really just wanted to beat his ass.