Hi Fitwriter,
Gift giving is a trickle down tradition except for family menbers. Give gifts to those who provide a service to you that makes your life easier or more comfortable. You provide a service (labor) and the editor (management) pays you for that service. In reality, it is you that is helping the editor by providing material for his magazine. If your writing was substandard, would the editor still pay you? If you feel that the editor did bend a few rules to help you become a writer, then maybe a gift is in order. But, even at that, a card and gift card is more than enough. It should bring a smile to your editors face, if he knows you personally. Anything more may make the editor feel a little uncomfortable.