Santa's chief mechanic, Tinsel, makes a new Super-Sleigh, which Santa decides to test the next day. Meanwhile, the feuding Miser Brothers attend their family reunion, where their brother, North Wind (voiced by Brad Adamson), passively asks Mother Nature what might happen if Santa would be unable to complete his duties on Christmas. She responds that North Wind would take control instead. Self-absorbed and vain, North Wind becomes fixated with the idea of replacing Santa Claus as a way to achieve personal glory. Despite his dashing appearance and veneer of flattery and devotion toward his mother, North Wind is far more malevolent than either of his brothers. Beginning his machinations, North Wind sends two minions to sabotage the Super-Sleigh. The crippled sleigh causes Santa to injure his back after falling in the middle of a fight between the Miser Brothers as he unintentionally crosses into their domain.
Nine-year-old Ralphie Parker wants only one thing for Christmas: a Red Ryder Carbine Action 200-shot Range Model air rifle with a compass in the stock and "this thing which tells time", a sundial. Ralphie's desire is rejected by his mother, his teacher Miss Shields, and even a department store Santa Claus, all giving him the same warning: "You'll shoot your eye out".
The movie takes place in 1946, six years after the events in the first movie which took place in 1940, showing Ralphie as a teenager, almost 16, who only wants a used 1939 Mercury convertible for Christmas. He accidentally causes the car to roll back out of the used car lot and gently tap a light pole causing a plastic reindeer on the pole to loosen and fall through the convertible top, so he bands together with Flick and Schwartz to raise enough money to fix it before Christmas so that the car dealer won't have Ralphie thrown in jail.
Sophianna, a disabled orphan girl, sets out to find Santa's toy sack, (which is a magical source of toys since it was made from the baby Jesus' swaddling clothes) which is stolen by Krad who wants revenge after Santa stopped handing out coal to naughty children. She is helped in her quest by Paul Rocco, one of Santa's elves, Dart, a reindeer calf, Buster the fox, and his friend, Charlie the polar bear.
On Christmas Eve, the Muppets go to the post office in New York City to deliver each of their letters to Santa Claus (Richard Griffiths). When they head back to their apartment, Gonzo discovers that three letters wound up in his coat from a mishap there. One of those letters he recognizes as being written by his friend, a neighbor girl named Claire (Madison Pettis). On Gonzo's insistence, the principal Muppets decide to go to the North Pole and deliver them personally.
Cette année, le Père Noël décide qu'Henry ne travaillera pas dans l'atelier de jouets, mais en tant qu'elfe d'étable. Déçu de ne pas pouvoir aider les autres elfes à fabriquer les jouets, il décide d'en bricoler un lui-même. Malheureusement pour lui, ce jouet devient vite incontrôlable et il s'envole avec les rennes du Père Noël. Ensuite, le sac contenant les jouets tombe du traîneau et Henry saute afin de les rattraper, mais il atterrit dans un arbre. Il va notamment faire appel à Beethoven pour l'aider à retrouver les jouets afin que les enfants ne voient pas leur fête gâchée.
A small-town sheriff and deputy are on the hunt for a murderous Santa Claus terrorizing their community on Christmas Eve. But with the streets full of Santas for the annual Christmas parade, the killer is hiding in a plain sight. He has made his list, checked it twice, and the naughty are going to pay with their lives.
A man in a Santa suit and a woman meet in an alleyway to have sex in a car, and are stabbed to death by a man wearing a grinning translucent mask. During a party, another man dressed like Santa Claus has a spear thrown through his head, and dies in front of his daughter, Kate Brioski. At New Scotland Yard, Chief Inspector Ian Harris and Detective Sergeant Powell discuss the murders, and interview Kate, and her boyfriend Cliff. That night, another Santa is killed, having his face shoved onto the grill he was roasting chestnuts on an open fire.
In 1971, on a visit to his institutionalized grandfather, who warned 5-year-old Billy Chapman that Santa Claus punishes the naughty, his family happens to come across a man in a Santa Claus outfit seemingly having car trouble. The man - actually a criminal who has just used that disguise to rob a liquor store after he kills a man and escaped - pulls a gun and mercilessly kills Billy's father in front of him and his infant brother Ricky, then slits their mother's throat with a switch blade, leaving the children alive. Three years later, Billy and Ricky are celebrating Christmas in an orphanage run by Mother Superior, a strict disciplinarian, who persistently strikes children who misbehave and considers punishment for their wicked actions as a good thing. Sister Margaret seems to be the only one who sympathizes with the children, trying to get Billy to open up and play with the children, but they are constantly under Superior's scrutinizing eye and they regularly end up getting punished.
The sequel picks up on Christmas Eve some years after the first one, with Ricky Caldwell, the 18-year-old brother of the first film's killer, is now being held in a mental hospital, awaiting trial for a series of murders that he committed. While being interviewed by the psychiatrist Dr. Henry Bloom, Ricky tells the story of the murders his brother Billy committed throughout a series of several flashbacks used footage from the original film, as well as some new shots inserted in the flashbacks to make Ricky appear in more of Billy's original story.
One Christmas Eve, during a stop at an orphanage, a baby boy named William, captivated by the sight of a teddy bear, crawls into Santa Claus's (Ed Asner) sack of gifts while he is delivering toys. Santa Claus unknowingly takes the boy back to the North Pole, and when discovered, is renamed Buddy because one the elves notices he is wearing "Little Buddy" brand diapers. Papa Elf (Bob Newhart) volunteers to raise him.
A man who claims to be Santa Claus (Douglas Seale) arrives at the Orlando International Airport in Florida. Ernest P. Worrell (Jim Varney) is working as a taxi driver. He takes a passenger to the airport, but speeds and the passenger falls out of the taxi. Ernest later picks up Santa Claus, who tells Ernest that he is on his way to inform a local celebrity named Joe Carruthers (Oliver Clark) that he has been chosen to be the new Santa Claus. Carruthers hosts a children's program named Uncle Joey's Treehouse in the Orlando area similar to Mister Rogers' Neighborhood with emphasis on manners and integrity with the catchphrase "They never get old. They always stay new. Those three little words, Please and Thank You.