A friend of mine is curious about this issue and I really have no answer for her, so I thought you lovely folks might.
She (we'll call her V) and I both have a mutual friend named Z.
Z is a bit flakey at best. While she's a nice enough person on her own, she picked up a lot of bad habits from a former roommate that have kind of amplified already bad habits that she had. I'm not really close to her myself but V and Z roomed together for most of V's college life.
I haven't talked to Z myself in 2 months now and that was only to help her move apartments.
V has not talked to Z in about a month and even before that they haven't done more than say 'hi' to each other online. The last regular conversation V has with Z was when her, Z, myself and another friend got together a month or so before I helped Z move in September.
V is wondering now whether she should still get a gift for Z or not. Z constantly has financial troubles and right now she has apparently declared herself exempt from giving gifts because of this and some other issues going on in her life.