Feasts of Merit are an important social way of life among different tribes in the world, especially in Southeast Asia. In Northeast India, the different Naga tribes were well-known for this practice before the advent of Christianity. However, among the Chakhesang Nagas, after the advent of Christianity, the practices of giving feasts continue to this day with minor modifications in terms of rituals and taboos while the symbolic meaning and values behind this practice are retained. The Feasts of Merit, among them, are intricately connected to their worldview, whereby the feast-givers distribute their wealth in terms of sacrificing mithun, buffalo, and/or other livestock, in consecutive feasts, and receiving in return a higher social rank and the right to wear a special shawl (“Feasts of Merit” shawl), variously known as hapidasa, elicüra, and thüpikhü and the right to adorn the house with special architecture (mithun and buffalo wood carvings on the wall, and to put up a horn at the pinnacle of the house front). This article discusses the “Feasts of Merit” shawl and how it is connected intrinsically to the ethos of the tribe, and in doing so it states that the Chakhesang feasts can be looked upon as gift economy.