I suppose my little niece -- my dear friends' first daughter -- will not be identifying herself as a feminist anytime soon.... But Robert Munsch's The Paper Bag Princess is the book I have decided to give her for her first birthday.
It's very girl power. Rely on yourself to get out of a jam, don't mess with your makeup when you've got more important things to do. Most importantly, when the boy of your dreams is a bum, dump him and dance off into the sunset by yourself. Bad guys are not necessary for fairy tale endings.