The Gift of the Magi Theme; people will sacrifice their most valuable possessions for the love of on another.
This is Mrs. James 'Della' Dillingham Young and Mr. James 'Jim' Dillingham Young.
Della needed to buy Jim a present for Christmas,, she only had $1.87. She went to a talor to see if she would buy her hair,, and she said she would give Della $20 for her hair. Della sold her hair so she could go get a present.
When Jim got home he saw that Della had cut of her hair.
When they exchanged presents,, Jim had sold his watch to buy Della's combs, and she had sold her hair to buy a chain for Jim's watch. So now they find out that their presents were kind of pointless.
In the end they decided to put aside their gifts and just take some time to admire each other for what they are and for what little they have.