Now you can gift iTunes credit and applications right from the iPad. This feature was removed and recently added back to iOS devices just in time for the holiday season. You can also choose a date in advance to send the App or iTunes Credit, so if you buy today your gift can get delivered on Christmas if you choose December 25th as the day you want the recipient to receive the gift.
This is a great feature and I am really happy Apple has decided to add it back into the iOS App Store. I always send my daughter applications and it is much easier to send these applications right from the iPad vs. having to open iTunes on my computer and send the app.