According to the popular theKnot.com wedding day gifts are an optional tradition and do not have to be anything large but instead something personalized and special to the two of you.
As for when to exchange your gifts, well guess what, that is up to you too. At your first look, around a corner/door, at the reception, just slice out a little moment for the two of you to share cards and gifts.
AND DON’T FORGET!
Talk with each other about this, the last thing you want (ahem guys/grooms) is your bride giving you something special and you not being prepared.