It is Christmas Eve, and Tom has drunk too much Egg-Nog during his  Midnite Hour show. He is feeling all alone out on the Little Grey Ship, but then he's managed to push away the friend that was the closest and had stuck by him. 

As Tom falls into a drunken sleep, who is that dragging chains into his studio, waking him up? 

A cast of favorite Midnite Hour characters return in different guises to help Tom see the error of his ways in this absurd rendition of a much loved Christmas tale.