Sure, but only take cash if you do this. Otherwise if there is a problem they could open a case with eBay for item not received and get their money back from PayPal since you will have no proof of delivery.

I sell wallets on eBay. Recently, there's a customer win 1 of my auction. Turn out, he studies at the same uni as me. I plan to give to him the wallet at uni so that I don't have to go through the trouble of shipping the wallet and he doesn't have to wait days and pay for the postage. Is there any way I can do that? I met and discussed with him and he agreed with this idea