Everybody regifts at some point in their lives...it happens. Here's how to do it like a pro so you don't look like an idiot later.
1. Remember who gave you the gift, and make absolutely sure that you never, never give a gift back to the person who gave it to you in the first place.
2. Give the gift to someone who is as disconnected from the original gifter as possible. Regifting within a group of mutual friends leaves the chance that the original gift-giver will figure out what you've done.
3. Regift quickly. Typically, you're more likely to remember who gave you the gift and make fewer potential mistakes.