I'm pretty sure that it's common knowledge that this is a gift exchange/game. However, when I looked up to see the rules of it on Wikipedia I was met with tons of different names for it. These include both Parcel Pass and Christmas Swamp Thing. I think that word should be swap but swamp is somehow cooler.

Whatever you call it I always get confused and practically need someone with Chart Assembler Jobs to explain it. I really want to get a replica of the leg lamp from a Christmas Story. The other interesting thing I found out was that it has to do with the cost of the upkeep of an item. That's what makes it a white elephant even though now we just refer to it as silly presents. So the original term would be like buying someone's kid a horse, because it would cost more to feed the horse over time than your initial investment took. It’s the gift that just keeps on giving.