Updated!
It seems to be pretty much the same old, same old
You have small snowmen spawning in groups outside EMC and Moradon. These are the ones you need to punch to get the drop of. They drop a shining star (Although at a crappy drop rate, at least for high levels)
The star can be turned in at Sexy Santa Parfait in moradon for XP, AC, HP gems. Also a “gem of contribution”. Guess that’s a NP gem? 4 shining stars for one gem
The same NPC also takes Christmas stocking for an armour or weapon enchant scroll. You can also get an ascent scroll! (20% XP for an hour) Unfortunetely I don't know where the Christmas stocking drops! Anyone?
The Christmas muffler can be exchanged for one Santa hat. This one is bugged. You never recive a hat but it takes a muffler away
There is a “cursed santa” like event again this year, although with some slight differences:
The order is still EMC, Asga, Raiba, A1 and A2 but this time you have 5 different types of snowmen spawning. There seems to be a long wait between A2 and A1. It seems to be on an 8 hours or more spawn cycle
You need to buy snowballs from sundries to hit the snowmen (And no, last years snowballs don’t work. I tried)
Little snowman: I don’t know what this one drops, if anything. Fatalinpulse says he couldn’t get a box at all
Snowman: Ditto
Fat snowman: This one drops a tiny bit of XP (14!)
Huge snowman: Again, a tiny bit of XP, but this one also drops a Christmas muffler for anyone hitting it
Happy snowman: This one drop the XP bless as we all know it