Okay, so I'll give you the basics... First, there are the presents. You buy a present with bells or snowflakes (I'll explain later), and you gift them to people.
Second, you get snowflakes from participating in the Jingle's Jolly Jamboree events.
Third, in some of the events, there will be "Staff Favorites" and if you get your entry is a Staff Favorite, you get a very special collectible. It acts as the Christmas version of the Green Pinwheel.
Lastly, all of the present will un-rap into brand new collectibles on the 25!
You know, I have just enough snowflakes to get you a good present! ;D