December 01, 2011 03:00 PM

John Shearer/Getty

Ali Larter‘s is busy planning the ultimate holiday party — son Theodore Hayes‘s first birthday bash.

“We’re doing a big one on the actual day in Chicago where my husband [Hayes MacArthur]’s family is, and we’ll do a mini one with my family,” the actress, whose son turns 1 on Dec. 20, tells PEOPLE.

“He’s so musically inclined — he loves his music class — I think we’ll do something with lots of drums, tambourines and guitar,” says Larter, 35. “Something jammin’!”

She and Teddy hit Gwen Stefani‘s Harajuku Mini for Target launch party on Nov. 12, where they watched the singer/designer’s fashion show for the retailer’s new kids line.

“I just think [Gwen] is brilliant and an incredible mom,” explains Larter. “But my son’s more preppy, so we’ll see how the rocker meets the prep.”

Her favorite thing about the collection? “It’s accessible. All these wonderful designers like her collaborating with Target — it makes these clothes that could be too expensive or out of some people’s range accessible, and especially for kids, come on! They’re out of these clothes so fast, you don’t want to spend a lot of money.”

While Larter recently called Teddy “the light of my life,” she’s also been making time for herself to do one of her favorite things — being active.

“I feel really lucky that I’ve been able to exercise. It’s part of my lifestyle, not something that makes me go, ‘Ugh,'” she says.

“I change it up: I play tennis, do yoga, sometimes I run or go hiking or do Pilates. I try to mix it up. But it’s also a stress buster and for new moms, it’s so important to take that time for yourself so you feel good.”

— Marisa Laudadio

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