On being given a gift you should look the giver straight in the face and offer a sincere "thank you". It is not necessary to express an opinion of the gift, to say how much you like it or to suggest you can imagine how much or little the gift cost. As the saying goes, it's the thought that counts
--Mandy1
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If you're in the habit of 'recycling' unwanted gifts by keeping them, un-used, to give someone else, label the item with the name of the person who gave it to you BEFORE you store it away. Avoids forgetting and giving the original giver their own gift back - and a lot of embarrassment!
--Mandy1