Time like the present
On Christmas Eve, Santa Claus Wooly comes down the chimney of an apartment and lays a present under a tree. The light turns on, much to his suspense. A tired Beaver walks in the living room and spots her present under the tree. Wooly peeps out of the fireplace in satisfaction.

The Beaver tries to open the gift, but fails. She bites on the ribbon and pulls it, only to tighten it. For the last resort, she bites onto a knife, but loses her grip and causes it to impale her foot. Panicking, The Beaver spots a saw in her toolbox. One floor below, Wooly puts a gift under Elliott's tree. Elliott passes by and Wooly is shocked at first. But as he sits on his couch, Wooly realizes he is blind, and takes advantage of it by eating his cookies.

Back upstairs, The Beaver saws the floor underneath her foot, only to get herself stuck through the hole and cause Elliott's ceiling fan to decapitate Wooly. A piece of his flesh crashes through the window, and another lands on the record player and it plays his screams in a loop. Elliott hears this and goes to stop the noise.

The Beaver bites on the ribbon of her gift to save her, but she and the gift are forced through the hole and her corpse lands on Elliott's firewood pile. Elliott stops his "record" from playing and feels the cold come in from his window. He throws The Beaver's corpse in the fireplace. He walks back to his couch, however he slips on Wooly's flesh and gets cut by the glass of his window. His head slices off and lands on a snowman.

The wind blows away the wrapping of The Beaver's gift, revealing her gift to be a pair of gloves.

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