(verb) The act of dragging a celebrity that is grabbing a giftbasket behind your car whilst driving, thus ending their life. It is very helpful to do this before performing at a concert, to get rid of the pre-show jitters. It's like a massage, only you kill somebody.
Ronnie: Hey, I used to watch that guy on tv when I was little!
Brandon: Let's giftbasket that mofo!
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To recieve a gift basket. The act of recieving a gift basket.
Betty got giftbasketed for Christmas and she loved it!!