Both. :)
Usually, there is something quite practical that I have had my eye on and haven't quite mastered the budget to go buy it just yet. So, if it is within the "birthday budget" (or whatever the occasion) I will often ask for that item FOR that occasion.
For example: The quilt on our bed suddenly started getting noticeably worn. Just seemed to happen all at once. So I started shopping for a replacement. I am picky about such things. I finally found something I really liked from my favorite linens store (The Company Store). Now, TCS is not cheap. But I found a set I really liked and it was on sale, a few weeks just before my birthday. So, I asked my husband if I could get that for my birthday, if he liked it too. Last year on my birthday, I had my new bedroom quilt set.
More recently, I have become a runner. And had started needing to borrow my husband's ipod to have some music (he runs too). Well, I was interfering in his running because I would be gone with his ipod, plus, I didn't care for his playlists. So, for Mother's Day, they got me my own. :)
For my birthday the year before, I had been shopping with my dear girlfriend on a 12 hour girls' day out... and decided that I wanted a charm bracelet. I told her (in July) that I would just go ahead and buy the bracelet and my husband could add charms, except that my birthday was right around the corner, and he'd probably rather buy the bracelet and a couple of charms together. She shared that with him, and I got a Brighton charm bracelet in September.
So, "fun" "extravagant" gifts are nice, too... but only if there isn't something more practical in my immediate line-up on my wish list. ;)
For Christmas, I wanted a new desk. I found what I wanted in the weeks leading up to Christmas, and went and paid for it about a week before. Then about 3 days before Xmas, hubby and I went and picked it up, and stuck a bow on the drawer pull. :)