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Vernissage is the huge weekend market held behind Republic Square metro on Nalbandyan street every weekend, selling everything under the sun. This is your best place to get souvenirs, since the back half has many handicrafts including ceramics, carved wood, stone, lace, needlework, dolls, paintings, jewelry and other things such as carpets, books and t-shirts.
Prices are usually quite negotiable, so try and bargain if you think a price is too high. Some vendors just tell you their price though and won't really come down, so don't be surprised by this! There is a team of pickpockets that have operated here for a few years, so keep your wallet under close watch.
The front section of Vernissage, before you get to Hanrapetutyan Street where most of the stuff of interest to tourists is sold is just as unforgettable. People sell electronic bits, old razors, and tons of other very random items that can make for some fun photographs.