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1.
the act of taking a gift received from a friend and giving it to another friend as if you had actually purchased it for them
Friend 1: Wow, that mixer is bigger and better than yours!

Friend 2: You're right, I'm keeping this one. I'm regifting the old one. Who's birthday is coming up?
by mrbsounds February 03, 2010
 
2.
When someone cums in your mouth and you immediately spit it back onto them.
Jim was upset about Susie regifting his load after he went through all that trouble trying to think of what she would want for her birthday.
by themailman24 April 11, 2011
 
3.
to have a sexual partner and then pass him or her on to your friend for their use. A more formal manner of sloppy seconds.
Kelley is regifting Matt to Tracy......
i regifted the yum yum
by submarine n'nat July 11, 2010