It was the show Oprah fans wait all year for.

Yesterday was Winfrey’s annual “Oprah’s Favorite Things” show, which each holiday season bestows extravagant gifts on Oprah’s studio audience. This year she lavished about $2.1 million worth of goodies on her 300 audience members.

The group was made up of people who dropped everything in the wake of Katrina and ran to the Gulf Coast to help victims – and their pets – get back to life. Winfrey has been a major advocate of the storm’s victims, donating $1 million of her own money and starting charities to help rebuild the area.

Among the her gifts yesterday were diamond watches, laptop computers, video iPods, fudge, cookies and gourmet popcorn.

This year’s list cost about $7,000 per person, about half of last year, when she dropped about $14,800 on an audience of school teachers.

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Oprah’s favorite things

50-diamond designer watch $1,795

Sony Vaio laptop computer $1,600

17 lbs. of gourmet popcorn $117

“Oprah Winfrey Show” DVD box set $35

Cashmere Ralph Lauren sweater $498

Oprah’s favorite corduroy pants $170

Sarah Jessica Parker “Lovely” perfume $62

Box of Williams-Sonoma croissants $40

Hope in a Jar facial cream $104

Picnic basket of bath products $115

Tub of gourmet cookie dough $50

Faux cashmere robe $145

Burberry bag $695

Burberry coat $695

UGG boots $180

Video iPod $299

Brownies $25

Nike shoes $95

T-Mobile Blackberry $299

TOTAL $7,019