The One That Could Have Been, part 1 - S6-E15
Revealing mistake: In the opening credits for both parts, fat Monica jumps on the couch and it lifts up on Chandler's end. If you look carefully at Chandler, you can see him holding one end of the couch with his hand and pressing up with his foot. (00:02:10)
Answer: Usually by the seventh night of Hanukkah you don't know what to get the other person, and you will probably resort to getting the other person something insignificant. Chandler is basically saying that the pen is a stupid gift.