Yes sure, edit the language file Sell, search for this variable:
gift_icon_menu~==~Not Selected:|Anniversary:anniversary.gif|Baby:baby.gif|Birthday:birthday.gif|Christmas Day:christmas.gif|Easter:easter.gif|Father:fatherday.gif|Halloween:halloween.gif|Hanukkah:hanukkah.gif|July 4th:july4th.gif|Mother:motherday.gif|St. Patrickatrickday.gif|Thanksgivinggiving.gif|Valentine:valentineday.gif|Wedding:wedding.gif|
The format is clear:
menu_icon_name:icon_file_name.gif|menu_icon_name:icon_file_name.jpg|...
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