Bam Margera Giving His Dad Elvis' Robe, Thanks to Priscilla Presley

Bam Margera and Priscilla Presley aren't just hanging out on rare occasions, they seem to be buds ... and he is now able to gift his dad with an iconic Elvis robe, all thanks to her!

-- through mutual friends in the music industry -- and since then he's formed his own relationship with Priscilla.-- heard about Bam's dad being a huge Elvis fan, so she gave Bam one of the King's personal robes ... and a ring!!!As for the ring, we're told Bam gave that to rapper-- who you see hanging with Bam in the video -- because it fit him and Bam considers him the new king of Rock 'n' Roll.

Meanwhile, TMZ broke the story ... Priscilla is challenging a change to Lisa Marie's trust, which is creating a

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