A gift or handout, something that doesn't cost money, is a freebie. Guests at fancy award shows usually get bags full of expensive freebies.
The informal word freebie means "something given free of charge," and it's an especially good term for marketing or promotional items that are handed out as advertising. Your local bank might pass out Frisbees with their address and phone number printed on them as freebies, for example. The word dates from about 1900, from free and the informal ending -ie, which is also used in newbie.