An acrostic poem is one where the first (or last, though this is much less common, and—in some ways—I think, harder to write) letters of each line combine to spell out a certain word or phrase. You could have just one word on each line, starting with the letter from the word or phrase you want to spell out, or each line could consist of a phrase or sentence, again, starting with the letter from the word or phrase you want to spell out. The words, phrases, or sentences that comprise the lines of the poem ought to have something significant to do with the subject of the acrostic. Therefore, if you are attempting to begin lines with letters from the title of this work, you could focus on the themes of sacrifice and love, which are incredibly important in the story, and the way Jim and Della both sacrifice their most prized possession for each other, in order to purchase gifts that feel "worth" of the other. Jim and Della's willingness to make sacrifices for one another as a result of their love make them truly wise.

The watch that is sold to buy a wife's gift.

Hair that is sold to buy a husband's gift.

Each wants to please the other.

Great love between a husband and wife.

Irreplacible sacrifices.

Forever lost.

Treasures given up to give to others.

One receives a gift no longer needed.

Foolish, perhaps, to sacrifice the most precious.

Three Wise Men brought precious gifts to Jesus.

Hurrying to honor the child's birth.

Each offering their own wisdom with their gift.

Man and wife gave precious gifts.

All that they held dear.

Gifts from the heart.

Incredible sacrifice and love creates true wisdom.