Haha. Indeed I have...mostly things such as lotions and bubblebath and bath salts and whatnot. Things I do not particularly need and/or use. I used to re-wrap it and give it to a different friend, or to my grandmother whom I know for a fact LOVES such things!
However, I have heard of scenarios where people re-wrap and give the exact same gift to the very person who originally gave it to them... The horror!