Well, Judith Martin (Miss Manners) says that a gift is just that, a gift. It is yours to use or dispose of in any way you wish. However, not writing a thank-you note to the giver is
crudity at it's highest.
My wife and I have disagreed on this for years. She feels obligated to permanently exhibit every knick-knack, picture, etc. given to her. I think it is ridiculous to let others dictate how you will decorate your home.