It sounds like it works like this - you can send a locked box with a game item/gift inside to a friend, then leave a key 'somewhere', and tell them to go find it to open the box.
I'm guessing you may also be able to leave down items for anyone to pick up in specific locations.
Sony or game developers could also put out perhaps more substantial gifts in specific locations for people to find. For example when a new PSN game is out, they could put some codes out there for people to find to promote the game or whatever (i.e. codes that can be redeemed for a copy of the game).