I have given prints to people who have expressed interest, so far to people mostly who know me well, and have received prints, some of which are on my walls. If you want to see it on their walls, you had best include a frame.
I think it depends somewhat on the occasion, but it can be a unique very personal gift.
Exchanges of photos are as common, and a few years back a different kind of photo gifting, the "photo postcard" exchange between otherwise strangers was a terrific success, with many of them being published in several magazines as the word spread, would not be surprised if many of RFF members knew of this.
Great guy who started it on Photo Forum, I would have to look back at my correspondence to find the name, but that says more about me than him. ;-)
I am afraid I sent fewer as time passed, but I did visit a friend out of town who had 30 or so on his board in his office. I think I still got a few in recent years, but an injury kept me out of the darkroom and I quickly fell behind.
I tried to keep a few post card size prints in my camera case to pass along to people while traveling.
We began with people printing on trim scraps and just putting an address and stamp on the back, and then of course, we often used Ilford postcard paper. Idea was to knock out some extra smaller prints while we were in the darkroom printing something else.
I am guessing a search will still bring up a list, it was more difficult, but the results much more personable than an email attachment, as these were real prints and certainly you look at a real print differently than an image on a screen. I have a dusty 11x14 for a friend of Roger Hicks, requested from the exchange, sitting in a house in England--- uncompleted projects, he moved to France and the photo never caught up.
Gives you a window in to other peoples' work, what they think is interesting. Old school, but still an interesting idea, well, at least to me, but still much more personal. Many were very good.