Probably

A valid gift requires:

1. Intention of donor to give the gift to the donee (donative intent)

2. Delivery of gift to donee.

3. Acceptance of gift by donee.

As the legal guardian, parent could refuse acceptance on behalf of the child.

Again, in the same capacity, they could limit or restrict use of the gift providing while the child remained a child.

Probably

A valid gift requires:

1. Intention of donor to give the gift to the donee (donative intent)

2. Delivery of gift to donee.

3. Acceptance of gift by donee.

As the legal guardian, parent could refuse acceptance on behalf of the child.

Again, in the same capacity, they could limit or restrict use of the gift providing while the child remained a child.