party favor vs relic

party favor and relic both are nouns.

Word	Noun	Adjective	Verb	Adverb
party favor	Yes	No	No	No
relic	Yes	No	No	No

As nouns, relic is a hypernym of party favor; that is, relic is a word with a broader meaning than party favor:

party favor: souvenir consisting of a small gift given to a guest at a party
relic: something of sentimental value

Other hypernyms of party favor include keepsake, souvenir, token.

party favor (noun)	relic (noun)
souvenir consisting of a small gift given to a guest at a party	an antiquity that has survived from the distant past
	something of sentimental value