Given the elaborate etchings that decorate every traditional tongkonan house, it will come as no surprise that wood carving is one of the main crafts of Tana Toraja. Along side this are weaving and basketry. There are some souvenir shops around the market in Rantepao, but the quality here is not very good. Although the 'woodworkers village' of Kete Kesu exists mostly for the benefit of tourists, the quality here is significantly better than I've seen elsewhere.
For Ikat fabrics, there is a big museum-cum-shop in the Rantepao market. Todi Shop is easy to miss, since it looks like just another small stall in the market, but go up the stairs at the back and you'll find a large room with demonstration looms and fabrics on display from all over Sulawesi.
Although you probably won't find anything you can buy to take home, a look around the weekly market can prove quite interesting, if your visit coincides with a market day.