(noun)(verb)(adj) The act of giving a gift out of your collection of gifts received previously usually stuff you don't like or can't use or unwanted items. Good for any occasion. Term coined by Kelly Ripa on Live with Regis and Kelly.
I regifted the crockpot Kelly gave me last fall to Linda.
I am the queen of regifting. That book has made it around New York City all though the regift process. My aunt, who is in her 80's, never regifts even though she has an attic full to the rafters. Look out, it's a regift!