I don't know what Santa was thinking... it looks as though he has lost both arms in a saw accident while carving out a Pinocchio doll. Not sure why Santa is dressed like a funky lumberjack... I guess these are his casual clothes when he's not making housecalls or public appearances. 
I think Redd Foxx wore this outfit on "Sanford and Son." No, wait... it was Rollo! Check out the video: Rollo and Lamont find Pot. That Santa is one hip dude. 