Meaning: This means that the speaker is asking someone to transfer a thing to them.
Choice of Words: "Give" is a verb that means to transfer something from one person to another. "It" refers to the thing being transferred. "To" indicates the direction or recipient of the transfer. "Me" refers to the person receiving the thing being transferred. When combined, "Give it to me" expresses a request for the transfer of a thing from someone else to the speaker.