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I was also thinking to make him something that he can stick on his desk, but that might be too much???
If the two of you did not interact much/ at all during college, and it was only at this internship that you met and meaningfully interacted, tread very carefully.
This might be marked trollish due ti what isbstated in the next paragraph, but I'll be blunt
Giving a gift or some memorabilia sounds problematic, even if I assume both of you are gentlemen. I need not even underline that if you are a lady, the associate might find himself in an even more uncomfortable position accepting the gift.Accepting gifts or any other items from interns may be regulated by some internal policy, and the associate (even if I don't assume OP's sex) might land in an awkward spot.
Nonetheless, if you really wish to express your gratitude, the best solution is a strictly formal/ professional letter, thanking the said associate for their guidance. Try to wrap up the letter in no more than 1½ page. (This too might seem excessive, but you get the point)