Would it be wrong to give a gift that was meant for someone else to someone?

The title might not make the most sense, but I have this cute little glass gift that says something like "I love you", it had cost me quite a bit of money when I bought it. I bought it originally for one person, but I'm no longer dating that person and want to know if it's moral or not to give this to someone else if the time ever comes. Should I tell the recipient of it's original purpose? Thanks!