Flower gift around middle of July (5)
I believe the answer is:
tulip
'flower' is the definition.
(thesaurus)
'gift around middle of july' is the wordplay.
'gift' becomes 'tip' (tipping is a kind of gifting).
'around' is an insertion indicator.
'middle of' says to take the centre.
The central letters of 'july' are 'ul'.
'tip' going around 'ul' is 'TULIP'.
(Other definitions for tulip that I've seen before include "Bulb producing a single showy flower" , "Bulbous plant" , "Perennial bulb" , "Amsterdam bloom?" , "Liliaceous bulb" .)