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1. Verb. To Degift a regift. Think about it, you'll figure it out.
Brother: Man this gift sucks. (What the heck is it? I'll just give it to my sister.) Here you can have it.
Sister: Aww thanks brother! I always wanted one of these!
Brother: (Hey she actually likes it, maybe its useful) Actually wait, can i de-regift you? Erm degift you?
by PornSoldier December 12, 2006
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