Stand for unwrapping of free gift (9)
I believe the answer is:
represent
'stand for' is the definition.
(stand for can mean to represent or denote)
'unwrapping of free gift' is the wordplay.
'unwrapping of' says to take the centre (I've seen 'unwrapping' mean this (letters which 'wrap' the word are removed)).
'gift' becomes 'present' (present is a kind of gift).
The central letters of 'free' are 're'.
're'+'present'='REPRESENT'
(Other definitions for represent that I've seen before include "Explain" , "Ambassadors do it" , "Portray" , "show" , "Act for" .)