Seriously though, Presidential Gifts and entertaining, like state dinners; all come out of the President's own pocket. (State dinners can be paid for with Federal Funds, or sometimes private funds like the President's political party.) The President receives an itemized list of every meal served at the whitehouse eaten by himself, his family, or statehis visitors. It's one reason mostmany American Presidents leave office in debt(except really wealthy presidents like Kennedy and, maybe Trump, President Obama made money in the whitehouse on book deals). U.S. Presidential gifts are thus notoriously cheap,generally inexpensive compared to some of the gifts the President receives. The Obama's were not the exception to the rule, they basically were following the rules. Before you feel sorry for American Presidents, the debt for modern Presidents as you can imagine is temporary. As Former Presidents do extremely well financially with speaking and book fees. Sitting on the board of directors of large companies. Also they can draw salaries from libraries and charity foundations they work with not to mention the permanent salary and expense account they receive for the rest of their lives from the American People. We are not even discussing influencing peddling and a sort of unofficial lobbying which Presidents may also take part in. (Cough Cough, Bush Senior, Cough Carlyle Group, Cough Cough )..
It's an odd sort of duality all gifts accepted by an American President are accepted on behalf of the American People. Any gift with a worth greater than $50 per event or $390 annually must be declared, and eventually turned over to the Government or in some cases may be paid for and kept. (Amy Carter's gifted baby elephant ended up in the zoo). But when the President gives gifts or entertains personally at the Whitehouse, that's all on his dime.
This is especially odd because if you wanted to give an American Politician 100 million dollars cash anonymously, that would be perfectly legal with a few accounting tricksindirections, as long as you ran it through his parties political action groups. America is a whacky place.