Perhaps the connotation of the word "gift" makes the exchange seem overly romanticized or conceited from the submissive end, but it's still one of the better ways I've heard to describe it.

I certainly don't think that saying this makes the sub the only one doing the giving. A few have asked if Dominance is also a gift and I think that in indeed it is. As a side note, I always affectionately refer to any little stripes and welts and Master's little presents to me. *weg*

Cadence make a good point too, that submission is also a gift to one's self. I agree, but think regardless it can still be given to another.

Because I am right in middle of having fantastic craving for cake right now, let me overly simplify and break it down like this... I love to bake, I really enjoy chocolate cake. In my kitchen, I have all the ingredients to make a really spectacular one. So I set about doing that. There's this guy. I know he likes chocolate cake, and I really like him and think that he has good enough taste in cake that he would appreciate the one I am baking. So, with him in mind I frost it and box it up and decide to offer it to him. It makes me feel good to do so. He accepts the cake, and offers me in to sit down, have a slice with him and maybe a frosty glass of cold milk. I gave the cake away, but am enjoying it far more now that we're there sharing it and enjoying it together.

Now, I really am going to go make cake...