In the short story The Gift of the Magi by O. Henry, a young couple, Jim and Della, live in a modest apartment and struggle to make ends meet. Each desires to give the other a special Christmas gift despite their financial limitations. Della sells her long, beautiful hair to buy a platinum chain for Jim's prized possession, his watch. Unbeknownst to her, Jim sells his watch to buy a set of combs for Della's hair. When they exchange gifts, they realize the irony of their sacrifices for each other.
This story explores deeper themes of love, sacrifice, and the true spirit of giving. As the characters navigate their economic struggles and personal desires, they demonstrate the significance of prioritizing love over material possessions.