I haven’t yet had this happen yet but our daughter is a very caring and thoughtful little human and may decide to do this eventually. And I’ve heard of this happening with other children. If your child gave away a toy and then wanted it back(after a long amount of time) how would handle it.
A) Would you get them a new one that looks the same.
B) Explain that when we give people gifts we don’t take them back because that’s rude.
C) Go to the parents and get it back.
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We would definitely explain gifts.
In the case of expensive or sentimental items we don’t let those things leave the house. So there’s no risk of her gifting them away.

Definitely explain the difference between gifting and loaning. Make sure that she's aware that if theres a 'fall out', we can't reclaim gifts

I'd try to explain sharing vs gifting

It depends what it is. It’s usually homemade bracelets or a bear they don’t want and I knew they’d be ok giving. I would obviously check before she gave it to her friend. I wouldn’t get a new one or ask for it back. We’ve also had it in reverse. Currently I have two paint your own stitch that her friend left that they are going to do on the next play date (they were duplicate birthday presents).
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