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Rewraping or slightly altering a recieved gift so it can be used as a gift to someone else. It is usually done to save time and money.
John: We can just giftcycle the gift i got from work. If we split it into two gifts, we have got the gifts to mom and dad taken care of!
John's brother: GREAT! You just saved us 200$ and four painstaking hours of looking for gifts for them!

God: Giftcycling is indeed a great way to save time and money!
by Slim_fast December 26, 2009
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