Actually, pairing wine with Thanksgiving dinner is a thankless task. There is sweet food, sweet and sour food, rich food, poultry, and whatever happens to be a tradition at that particular table.
So drink what you like. It will probably match something.
• Pinot noir is the traditional wine, since it's turkey-friendly. Mark West California 2006 ($15) is one of the few value pinots around, and it's a pretty respectable effort. It's fruity, but not overly so, with a touch of what wine types like to call rusticity. If you want to spend more, consider Orogeny Pinot Noir Green Valley 2005 ($30), full of red fruit and very easy to drink.
• Chardonnay, since it goes with almost anything. $8 will get you Baron Philippe de Rothschild Chardonnay 2006, which offers a fair amount of value. It's not white Burgundy or Napa, but it's more than sufficient. Even more value at $20 is the bright, crisp and green apple-y Maison Verget Macon-Villages 2005. It's unoaked, which means it's lighter than its California cousins.
• Sparkling, which is never out of place. Availability is limited, but I really like the Greg Norman Estates Sparkling Chardonnay/Pinot Noir ($11). It's value bubbly the way it should be. The Zardetto Prosecco Brut ($18) is much drier than most Proseccos, and has a bit of chardonnay to give it some oomph. Surprisingly good.