Pete Davidson gave Colin Jost a $20,000 watch two years after they teamed up to buy a decommissioned Staten Island ferry boat, which his former SNL costar said was the "dumbest" purchase.

Pete Davidson gifted his friend and former Saturday Night Live castmate Colin Jost a $20,000 Cartier watch as a peace offering after the two had an unexplained falling out last year. Jost, 42, and Davidson,

Pete Davidson reportedly found a lavish way to make up his behavior to Colin Josh while he was in rehab. Speaking to TMZ,a source denies that the Saturday Night Live alums are feuding, but says Pete had to make an effort to get back on Colin’s good side.

However, allegedly, the Bupkis star purchased a $20,000 gift for the longtime Weekend Update host in an effort to make amends. Rumors Indicate Colin Jost And Pete Davidson Are No

Pete Davidson and Colin Jost were never in a feud ... but Pete definitely regrets how he behaved in the past before he went to rehab and got clean -- so he bought CJ a very fancy gift to apologize.

After exiting rehab, Pete Davidson seemed to be on a mission to repair his broken friendship with Colin Jost as he gifted the comedian a generous $20k present