Is re-gifting wrong no matter what?

I have a bunch of friends with whom I'm spending Christmas I want to give small gifts. Some are getting knitted hats, some handmade bow ties, some others similar handmade things. I'm a bit of a pack rat so I always keep things for long periods of time. And I have this beautiful silk scarf that I've never worn because I look terrible with it's colouring. However - one of my friends has the perfect skin tone for it and she wears scarves regularly. I can't remember where I got it from (I've had it 15+ years, I think a hotel guest where I worked one summer gave it to me because they had extra) it has no real sentimental value. Is it wrong to repurpose this gift to someone who would use it?

I don't think so, but I know people have strong opinions on this kinda stuff. This isn't a shitty gift that I want to get rid of - we all know those people who put gifts they don't like in a box and just pull things out willy nilly to give to friends and family whenever gifts are expected (Christmas/Weddings/Birthdays, etc) - but this is more along the lines of something beautiful that someone else will get much more use out of . I have a few other thing of this type that I always wonder if it's okay to give to people whom I think would appreciate it more.

Waddya say GT?