Green’s Dictionary of Slang

prezzo n.

[abbr. + -o sfx (3)]

(orig. Aus.) a present.

[Aus]B. Humphries Barry McKenzie [comic strip] in Complete Barry McKenzie (1988) 15: I trust they appreciate the little prezzo I’ve brought them!
[Aus]Penguin Bk of More Aus. Jokes 429: It was Mabel’s birthday and Dave asked her what she’d like for a prezzo.