Historically the custom of giving and receiving presents at Christmas is to remind us of the presents the Wise Men gave to Jesus. They were Frankincense, Gold, and Myrrh. These valuable items were standard gifts to honor a king or deity, Gold as a precious metal, Frankincense as perfume or incense, and Myrrh as anointing oil.
The Christmas holiday has evolved over the years becoming a time for family and friends to get together and exchange gifts. There are many different traditions and beliefs around the world surrounding the holiday, but the common thread is a gift exchange.