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Its not necessary. as its expected by most faculty and is not commonly done. However, if someone went over and above the "call of duty" (ie, wrote you several different letters, called people on your behalf, etc.) then perhaps a small gift (ie, like movie passes, a gift certificatre for Starbucks if they like the java, etc.) would be appreciated.
i personally feel nothing more than a sincere 'thank you' is expected nor appropriate. did anyone get their med school LOR writers gifts? I just don't think it's in the spirit of an objective assessment. However if one were to give a gift, I agree with the prior post with respect to the nature of the gift - only something small and of small monetary value.