A new social shopping app for Facebook users was released by Walmart today.

The app, named Shopycat, mines data (with your permission) from profiles of Facebook users that you have ‘friended’. It then suggests gifts based on their interests and tastes. Gift recommendations are based on products that are available at Walmart Shopycatstores, Walmart.com, Barnes & Noble, RedEnvelope, ThinkGeek, and other sites, according to Walmart.

The new app was designed by a new Walmart venture called WalmartLabs. Last month, WalmartLabs released a shopping app for iPhones and iPads that looks up prices, availability, and other product information at local Walmart stores and Walmart.com.

Shopycat is designed to provide gift ideas such as music, movies and books, to electronics and games. If your Facebook friend does not have interests and likes listed in their profile, the app recommends giftcards. Shopycat also allows a user to see what gift recommendations it is making for them to other Shopycat users. Walmart says those recommendations can be fine tuned by editing your own interests and likes on your Facebook account.

The app is designed to work through Facebook and is not the type of app that works as an independent program on a smartphone or tablet. It is available at http://www.facebook.com/Shopycat.