"GIFT" is not merely a four letter word or a symbol of social status/ an object used for flattery. Infact, I guess....that giving a gift to someone is "an Art". It is another beautiful way of expression that we human beings are bestowed with.
In a real sense, the "GIFT" should not merely be an object without a "meaning". It should symbolize a deep meaning i.e should be a " True Messenger" which means that "IT" should owe the competency to express the thoughts/feelings of the one giving the gift and also should reflect the personality of a person to whom it has to be given.
Interestingly, "IT" doesn't always has to be an object....What I think is that "IT" could also be an "Honest Confession" or a "Letter" stating the thoughts/ feelings of a person for another person.Sometimes, it is more effective and real. Infact, I guess " A GIFT"( in terms of a meaningful object) coupled with "AN HONEST CONFESSION"/ "A LETTER" forms a great combination and can superbly express the thoughts/feelings.
A "GIFT" is significant for a person because it makes a person feel special and respectful. It signifies the place of one person in another person's life and most importantly, "IT" gives some beautiful memories (precious of all) to a person of the other person which can be cherished by a person throughout his/her life.