Here are the features of one application, Family Gift Exchange, available on the Internet:
View and manage your:No longer just for weddings and baby showers, gift registries are for any gift giving occasion, including Christmas and birthdays! Why not? Wikipedia has pages with descriptions and examples of gift registries and online gift lists.
Wishlist - The items you want
Non-wishlist - The items you don't want
Recommendation list - The items other people think you want
Have your own individual login
Indicate relevent website or purchase location for gifts.
Make recommendations for other users.
Choose whether recommendations are visible to the person you are recommending a gift for.
Approve or unapprove the (visible) recommendations made for you.
Indicate to other users that you have purchased an item on someone's list (without the recipient being able to see that you have purchased it).
Customize site colors, logo, and family name for your own family or group.
Easy to use. Even has a HELP page.