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1.
1. A gift one gives that is motivated purely by guilt.

2. A substitute for saying, "I'm sorry." Most effective when used by single wealthy men over 40 on their girlfriends.

1. "Oh that's a very pretty necklace!"
"Thanks - it was a guilt gift. This one's for Vegas."

2. "Why didn't you call me back?"
"Here, have some <guilt gift> chocolate!"

by covered in jewelry October 11, 2006
 
2.
When your alcoholic father goes on a inebriated rage and the next day he feels guilty and buys you something of great value.
One night:
Your dad: "IM GONNA KILL YOU!"
You: "NO DADDY NO!"
The next day:
Your dad: "Hey im sorry about last night champ, guess what? Were going to go to Disney World!"
You: "Dad, this is just another Guilt Gift..."
by Ryuk-kun-x3 April 20, 2011