The CEO of Warner Brothers Studio fires Ralph for not catching the Warners. The Warners visit the CEO as the ghosts of Christmas Past, Christmas Present, and Christmas Future. Yakko as the ghost of Christmas Past shows the CEO how he has always been mean. He shows the CEO firing his father when he first became CEO. Dot as the ghost of Christmas Present shows the CEO Ralph's family. He sees that they can't afford presents or Christmas dinner since he fired Ralph. Yakko as the ghost of Christmas Future shows the CEO that Ralph's son will grow up to become CEO and will fire him. The CEO has a change of heart and gives the Warners money to buy a fruitcake for Ralph and he goes and gives Ralph his job back. The CEO is then hit by the enormous fruitcake bought by the Warners.

The Warner's travel to Bethlehem to witness the Nativity and sing a song.