The plot of the video is simple.  The muppets decide to surprise Fozzie's mother and spend Christmas at her farm.  The Sesame Street gang show up, and it turns out there is a Fraggle hole in the house to allow the Fraggles to join the fun in the overcrowded farm house.  There are many classic moments in the video, from the meeting of Animal and Cookie Monster to Bert and Ernie making alphabet small talk with Doc, a rocking "Jingle Bell Rock" by the Electric Mayhem, and a tear jerking moment with the Swedish Chef who decides to make a vegetarian dinner (after a duet of sorts with Big Bird).  As has been pointed out in other reviews, there were some edits due to licensing problems that have purists hopping mad.  While a couple of comments are a bit odd given the cuts, the movie still hangs together as great fun.  The final vignette with Jim Henson (appearing as himself) together with Sprocket is enough to choke you up and make you raise your glass to the memory of the great man.