I re-gift if I know I will not use something I have been given. I have never been given a quilt, but I have given a few rag quilts and a great many crochet baby blankets, once they are gone they are gone.
If I was given an item that I knew a lot of time and money has gone into and the giver had made it (instead of buying it) I would give it back to the giver. I often regift to silent auctions and school fundraisers I do not give beautiful items not to my taste to Thrift Shops.
But then I am also the person who put a limit on Christmas gift giving a few years ago. I truly hate the pressure to give and get so much, when we really do not need it. Now we draw names.
I have also requested that people not buy me gifts. My MIL decided that because I like cats I should collect cats knick knacks. She would buy something for every occasion. I am not fond of dust collectors and took her out for tea and let her know that yes I love cats, but only living purring ones. I offered to return the gifts, but she did not want them to I regifted them.
I do make small relative inexpensive items that I give away (25 fluffy scarves one year, many homemade dish cloths another). I either let the children choose which one to give to whom, or let the recipient choose. I think of the 25 scarves I chose who got what maybe 5 times. I worked on them during idle time (meetings, watching TV, when DH was driving etc), so my time investment was negligible.