The term 'GIFT IN 'THE GIFT OF THE MAGI'' is a reference to the short story by O. Henry, which tells the story of a young couple who sacrifice their most prized possessions to buy each other Christmas gifts. The crossword solution for this term is FOB, which stands for 'Fob watch, ' a type of pocket watch that was popular in the early 1900s. In the story, the husband sells his watch to buy a set of combs for his wife's hair, and the wife sells her hair to buy a chain for her husband's watch. This selfless act of love is the gift of the magi.