to gift-lift (compound verb)
This describes the action of stealing something and then giving it as a gift to someone else. The action of stealing is the “lifting” part of the verb.
Notes: Gift-lifting reminds me a lot of the commonly used term regifting, when received gifts are given to other people, usually in the guise of it being a new gift, because they aren’t liked or needed initially. There can be charitable motives to regifting, but it usually saves buying a useless gift for someone that isn’t that close to you. It’s akin to recycling or re-purposing gifts.
Ex: Neil gift-lifted this Hermès scarf from Nordstrom’s to his girlfriend Joan.