Deliver first of several gifts (8)
I believe the answer is:
presents
'gifts' is the definition.
('present' can be a synonym of 'gift')
'deliver first of several' is the wordplay.
'deliver' becomes 'present ' (synonyms).
'first of several' becomes 's' (1st letter of 'several').
'present'+'s'='PRESENTS'
(Other definitions for presents that I've seen before include "Hands over the gifts" , "donations" , "Awards formally" , "Introduces" , "Hands over formally" .)