It’s Christmas Eve, 1974 and we follow the story of Ronny and Wayne, who’ve had a hatred for each other ever since last Christmas. Ronny, trying to make amends, invites Wayne up to his annual Christmas party, along with a few other mutual friends. During the party, things seem to spiral out of control, with eccentric arguments, hookers, pimps and plots to kill other party guests. But the night truly devolves into all out chaos when a maniac dressed as Santa Claus is set on picking off each party guest one by one.