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scandalously repackaging and claiming to have purchased on your own a previously received hideous piece of crapola and giving it to someone else as if you had actually been thinking about what they would enjoy.
Your mother buys you some crappy made in china plastic wal mart creation. You unwrap it, take off any identifying tags, place it in a box from Saks fifth avenue, and "regift" it to someone else.
regift by Lydia Holm May 25, 2006
what you do with all gifts from grandma, or other people who are addicted to giving needless, redundant gifts: wrap it back up and give it to someone else.
Sallie: "I think I have enough potholders, pajamas, dishtowels, socks, coffee mugs, sweaters, and pocket knives to last me a lifetime"

Jason: "Just regift that junk!"
regift by Shumado December 24, 2010
regifting is when you receive a rubbish, thoughtless present from someone, so instead of using it, or throwing it away, you save it until next year, wrap it up and give it to the same person who gave it to you.
Christmas
Me: Mark, a can opener.... Thanks...

<next year>

Me: Here Mark, here's your Christmas present.
Mark: A can opener? How dare you fucking regift me this!
regift by Jay Sea December 16, 2008

regift fail

When a cheap person regifts something and the reciever unwraps it to discover it is blatantly secondhand.
My friend regifted my DD an Easter egg sticky-taped to a dirty coffee mug, which had coffee residue and spoon marks in the base of the mug. Regift fail.
regift fail by b0sing May 17, 2011

regift fail

When someone re-gifts you a gift, and doesn't even realize that it is a gift that you originally gave them.
My friend totally regifted me a necklace for my birthday that I gave her for Christmas a week before!! Regift fail.
regift fail by Yelsie December 31, 2010

De-Regift 

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?
De-Regift by PornSoldier December 15, 2006