Questions & Answers about Me regaló un marcapáginas de papel con flores azules.
Me is the indirect object pronoun meaning to me.
So Me regaló... literally means something like He/She gave ... to me as a gift.
With regalar, Spanish often uses an indirect object pronoun:
- Me regaló = he/she gave me as a present
- Te regaló = he/she gave you as a present
- Nos regaló = he/she gave us as a present
Spanish often leaves out subject pronouns when they are clear from the verb form or from context.
Regaló is a third-person singular form, so the subject could be:
- él = he
- ella = she
- usted = you (formal)
So the sentence could mean:
- He gave me a paper bookmark with blue flowers
- She gave me a paper bookmark with blue flowers
- You (formal) gave me a paper bookmark with blue flowers
Context tells you which one it is.