If I had more time I would consider doing custom work for people like pet portraits, but my real love is photography so my free time (what little I have) is usually spent doing that. When I was younger I would draw all the time, but I really haven't had the drawing bug in awhile.
I might actually draw a portrait of my uncles dog for him as a christmas gift now that you brought up gifts! I would love to do more gifts, but I do have a hard time giving away my artwork. I get so attached to it I guess!
Maybe you could scan the pieces you give away or sell, and keep them in a portfolio. Then you would still be able to enjoy them, and you'd have the ability to sell or give away 'prints' in the future.