What to do with Wrapped gift ?
Those go to orphans in Divinity’s Reach. Likely the easiest one to find is near the bank, behind the Pavilion portal next to the Black Lion chamber. If you have 15 of them and can find 15 orphans (this might take a while without using a guide) then you’ll get a daily from it tonight. I think. It might have been on last night’s list. But there is an achieve for the first 15.
You can get more for karma at the karma merchant at the entrance to the Pavilion by buying wrapping paper and toys, then buying wrapped gifts with the toy and paper. Giving them to orphans pays karma back, more if you have a karma boost on such as the holiday food grants.
Please mouse over the gift and read the tooltip to make sure I haven’t mixed this up with the regular Wintersday Gifts, which you simply open for what’s inside or sell on the TP, though the contents will often net you more than the unopened gift.