It seems like that gift-giving has been disabled for an incredibly long time, especially since the message when you try to go to it says:
It would be great to have this feature fixed and re-implemented before Christmas! I was thinking of organizing a MyVMK secret santa, and it would be a lot easier to do if we had this! Plus who doesn't love giving their friends presents for christmas?
@Amy
Gift Giving has been temporarily disabled whilst we work out a few issues with it.
@Amy