+1 on light - people even cut the handles off tooth brushes to save weight
Over here in Oz it is is all Swiss army knives (SAK), or the occasional Opinel, or multitool. However we don't need to chop wood, and many trails now require the use of fuel stoves anyway
Carying a fixed blade would attract a lot of attention - but make getting camp sites easy - no one would camp near you. That would cut down your socialisation for some time
I used to carry a SAK and a light Gerber Bolt - a light weight gerber Gator or slightly larger version of the Gerber LST both mentioned earlier
These days (because I like knives) - I would do a SAK, Ritter benchmade mini griptilian, and Gerber LST micro (6005?) (rarely out of my pocket and so light) - the equivalent of the Spyderco ladybug. The SAK in the outside of my pack with torch/headlamp, and the others in my pockets - with Innova microlite II. If yous search on mini griptilain review - you will finds some very postive reviews from hikers
I love my Falkniven F1 and S1, but would not carry them when on a trail walk
I save the indulgence weight for the hip flask of scotch, or bar of chocolate.
In your case I would take the gift (partially because of who it came from) have fun - but think that maybe you might send it home
Sounds like a great trip - have fun