The history of that Christmas typeface actually has its roots in religion, so I guess Christmas it is.
It's a variation on Lombardic Caps, and you'll notice that all the lowercase is condensed "Bible Text", also known as Goudy Blackletter Text and Linotext, after the German Linotype foundry. The Lombards were of Germanic ancestry, and moved to Italy in the 6th century.
I offer the community an ornamental version of Lombardic Caps called "Folks" because Folks was the title of a poem that had similar lettering that's hanging in our kitchen. So it was easy to view and render as a digital typeface. :)
Folks is Charityware like all of the faces I've designed; read the readme text file inside the zip, and both TTF and OTF versions are included so you can animate this guy in Xara 3D Designer.