The aim of this qualitative study was to discover the positive and negative consequences of the labeling of gifted pupils and to find coping strategies for pupils, which would eliminate the negative consequences of labeling. Two hundred and eight intellectually gifted pupils of adolescent age from the Czech Republic participated in the research. The source of data was a questionnaire with open-ended questions. The positive aspects of labeling mainly concerned the academic and personal spheres, for instance, feeling good about oneself and extensive opportunities with regard to further education. Negative consequences affected the personal (problems resulting from giftedness) and academic (perfectionism, high expectations) areas, but above all, the social sphere. We discovered that gifted pupils are singled out from their peer groups, used, and even bullied. The gifted pupils developed several coping strategies to deal with the negative consequences of labeling, such as helping others, conforming and denying their giftedness.