I don't mind gift exchanges as long as the gifts are "real" gifts. I joined a golf league this year and the members had a white elephant gift exchange for Christmas. I didn't know that white elephant means you re-gift something you have at home that you don't want so I purchased a gift. I won't bore you by telling you what I got in exchange, but it was something obviously old and used. Now that I know the rules of the game, I should probably wrap it up for the next gift exchange, but I really hate holding on to it for another year.