It looks like Apple is trying out something new as the “Gift This App” is not available yet on all applications.
Have you ever wanted to give a certain app to a friend or relative but you could only give them an iTunes Gift Card? Say you only wanted to spend $15 on someone. There is no way to get just a $15 gift card. You have to purchase them in $10 increments. With “Gift This App” you are now able to give that application to someone.
We do have some questions that should be resolved soon though such as, What if the person’s iTunes email account is now the same as you send the gift to? What if they already purchased the application? As soon as we have more details we will keep you posted.