Have you thought about re-gifting her the gift that she re-gifted you after you gave it to her in the first place?
Snarky and Evil suggested re-wrapping it in the original paper, if you still have it. But admit that this is not always possible.....it's been unwrapped twice, after all.
Snarky and Evil VorFemme kibitz a lot.....
At this point, what do you have to lose? Really? Face it....your impression and opinion of her and your friendship has been altered by her careless comments and actions. Even if you laid it all out there and she apologized, you'd still probably wonder if she was sincere or if she just apologized b/c she'd been 'caught'.
Call me cynical, but I just can't imagine that she'd be that careless with a close friend. (And by close friend, I mean that if I'd spent important holidays with that friend and her family, I'd consider her a close friend.) Or that she'd continue to gift you and your family with nothing but re-gifts. I mean, if I care about someone, I get a charge out of choosing something that I think that person will like. I get excited to see their reaction. I WANT to buy them something they like, that they want. Regifting, especially something that she'd given you before, says that she really just doesn't care. Either for you, or just in general. But regardless she just doesn't care for your friendship at the level that you care for hers.
Mourn it. But I wouldn't try to talk to her about it. Really, what would be the point? Either she'd deny it, or she'd get angry. Or she'd try to pin the 'blame' on you and make you look bad for expecting more from her. Nothing would be accomplished except for making you feel bad. View her comments as the last gift that she gave you (to clue you in to her perceived level of friendship), and scale back the friendship to the level that SHE apparently perceives....that of non-special friends. (Which doesn't involve financial outlays of any amount for Christmas or birthdays, or special invitations to spend holidays with your family.)