Ask HN: Investments/Savings for Infants

OK - so I'm thinking about christmas presents for my brother, his wife, and their 2 month old. They have more clothes and diapers then they know what to do with and both make very comfortable livings.

I'd like to put away some money for my nephew in some sort of investment vehicle that cannot be touched until he's 18 (or out of college). I was wondering if there were any funds, CDs, ETF's or other investment tools I should be researching. Please, share your thoughts/experiences.