when you lose the friendship, do you keep the gifts?

I'm in the process of sorting through a lot of my junk and getting rid of things. I have been feeling cluttered for a while now and finally got up the motivation to do something about it. In the course of this, I am trying to decide what to hold onto and what to give away.

I am wondering... when you stop being friends with someone because you are upset with them, do you keep the gifts they have given you? I mean, I have some things from people who have passed out of my life because we just drifted apart, but that's not what I'm talking about here. I'm talking about the birthday gift I got five years ago from someone I got in a fight with three years ago and haven't spoken to since. I'm talking about the token of affection from a now ex that I am still unhappy with. Stuff like that. At the time, the items were welcome gifts from people I enjoyed - so the direct memories attached to them are pleasant. And yet now, thinking about these people brings out a little negativity, and these items will always be tied in my mind to the people who gave them to me.

Do you keep things like that, if they're items you are otherwise fond of but not madly in love with? Why or why not? Is it weird to give them away to other friends who don't know the story behind them? If you keep them, do you still display them or use them, or just keep them in a box of memories? Does it depend on the item? Have any stories to share?