Brenda gets a job at a posh Beverly Hills boutique.
The Walshes have their first real Christmas in Beverly Hills. The trees are all dead and try, and Brandon spray paints their tree green. Cindy attempts to invite Brandon and Brenda's friends as part of their Walsh family Christmas, but everybody has plans. Donna is skiing, Kelly and Jackie plan to have dinner with Mel and David.
A homeless man comes to The Peach Pit, and Nat's santa suit goes missing.
Steve searches for his birth mom. He goes to a hospital to get his birth certificate, which he can only get after bribing the nurse. He dials through the phone, until he reaches someone who knew his mom. The man is Steve's Grandpa, who tells her she died in a car accident.
Mel and Jackie fight, after Mel decides to spend Christmas with David's mom who is feeling depressed.
Brandon visits Emily Valentine at the hospital, and brings her a present.
Everybody's plans get changed and Samantha Sanders, Kelly and Jackie, Andrea, all come to the Walshes. Brenda invites the "homeless Santa" to the Walshes.
Dylan visits his Dad in jail, who urges him to spend the holiday with Brenda.
Cindy suspects that the homeless santa stole her ring until Jim reveals he had it updated. The homeless santa revealed his wife died. Nat reveals the bus boy moved his costume, and it wasn't stolen by the "homeless santa".