Act like you totally deserv it.

 

No gift is needed.  Just acknowledge it verbally to your boss and express your willingness to do more good work.

A gift can mean that you don't feel you deserve the whole thing and want to off-load that burden onto a gift. Your boss don't want to be told that his judgment was off mark.

You don't need to take care of your coworkers; that's your boss's job.