They covered this on THR, which isn't necessarily the best place for legal advice.
The posters finally decided that it was legal to purchase a gun and give it as a gift as long as: You receive NO consideration (money or whatever, straw purchase) for the gun AND the person would otherwise be LEGALLY able to purchase said gun themselves.
If you are gifting a friend in Texas, you wrap it in a box and give it to him/her. No gifts to out of state residents, please (it's not legal).
We don't have gun registration here. Once the initial purchaser fills out the 4473, a firearm is just another commodity (like a toaster) here. No paperwork legally required between individual sales (you just have to be reasonably sure the person is not a felon or otw unable to own a firearm), but some folks write out a bill of sale.
If you're worried your "friend" might go bank robbin' or sell the pistol on to a gangbanger, perhaps you should rethink your gift.