How Does One Play the "Pirate" Gift Exchange Game?

Our office is planning to have one but no will tell me how it's played. They say I have to WAIT until tomorrow then they will explain. I want to know NOW!

note - excuse me for the Caps, but I wanted to grab you alls attention.
Update: I usually select a best answer right at the 4 hour mark but I have to wait until tomorrow to confirm submitted answers today.
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