What gift... is an English equivalent of 'Che regalo...', and What a gift! is an equivalent of 'Che regalo!' Either way, the interrogative 'che' means 'what'. The masculine noun 'regalo' means 'gift'. Together, they're pronounced 'keh reh-GAH-loh'.
"Gift" in English means regalo in Italian.
Che in Italian means "that" in English.
"What" in English is Che?, Che cosa? or Cosa? in Italian.
Che bono che sei! in Italian means "How attractive you are!" in English.
un regalo
"God's gift" in English is regalo di Dio in Italian.
Checca in Italian means "gay (homosexual)" in English.
Beautiful gift in Italian is "bel regalo"
"Present" in English means presente as "in attendance" or "current" and regalo as "gift" in Italian.
"What was that?" in English is Che cosa era? in Italian.
"I love your gift!" in English is Mi piace il tuo regalo!in Italian.
Che fa oggi? in Italian means "What is happening today?" in English.