James 1:17
"Every good and perfect gift is from above, coming down from the Father of the heavenly lights, who does not change like shifting shadows." (NIV)

"Every good gift and every  perfect gift is from above, and cometh down from the Father of lights, with whom is no variableness, neither shadow of turning." (KJV)

Notice that there are two kinds of gifts and the King James Version makes it a point to separate them out. The "good gift" or agathos dosis in the original Greek speaks to someone blessing another out of the kindness of their heart. The giving was good, therefore the gift was good. 

The "perfect gift" in the original Greek is teleios dorema. That first Greek word teleios refers to perfect maturity. The second Greek word dorema means right on time bestowment. Place these two words together and the concept deals with someone bestowing that right thing, at the right time, for not only the situation but the maturity of the individual. 

As we read on into the verse The Giver is identified as "the Father of lights". Why is God given this name here? I believe He enlightens us of the many good sides He has by revealing kind and on-time gifts to His people. Light reveals everything around it. In the same manner, God, being the Father of all light or revelation shows us different "good" sides of Him. There is no "variableness" or "change" in Him, His Faithfulness endures forever. There is no "shadow of turning" - His light/revelation is omni-directional (in all directions), to all people who would step out of the darkness, into His light and receive Him. 

John 1:12 says, "to all who did receive Him, to those who believed in His name, He gave the right to become children of God—". As a child of God, I receive the benefit of having God as my Father. In addition, I have a bonus of Father God being "the Father of lights" to me - the God that keeps giving - every kind gift, every on-time gift - "Every Good Gift And Every Perfect Gift from above".