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Ha ha! It's Christmas! Hurry up, Mom and Dad! It's almost dawn! Here, I got you a present. You got me a present? Gosh Hobbes, how nice! I picked it out myself! Open it! Why, it's ... It's three cans of ... Uh... Salmon. Um, thanks, Hobbes. Gee, I didn't get YOU a present. I feel terrible. I thought of that. See, you could give me mine back! That would be a GOOD present! Well then, here! Merry Christmas, Hobbes! Why, thank you! It's just what I wanted! Merry Christmas! Calvin, did you know these cans over in the pantry? Calvin and Hobbes are under the Christmas tree.
Hobbes gives Calvin a present. He picked it out himself. It's three cans of salmon. Calvin thanks Hobbes for the gift. Calvin feels bad because he didn't get Hobbes anything. Hobbes suggests Calvin give him back the gift. Calvin does, and Hobbes thanks him. They exchange Christmas wishes.