I'm going to reject my friend's gift to me and hurt her feelings.
Why would you do that after receiving such a nice gift?
If I accept she will want a better gift from me next time.
It's wrong to hurt your friends feeling because you don't want to give them a gifts. You don't have to give a better gift in return.
I'm going to make her a cry then.
It doesn't sound like you are very supportive friend. Actions are more important than gifts and yours a making you come off in a bad light.