Mickey wants to get Minnie a gold chain for her one heirloom, her watch, so he works at Crazy Pete's Tree Lot. Minnie wants to give Mickey something special for Christmas as well, so she works hard at her job in a department store to get a bonus to buy a present with. When Mickey offers a small tree to a poor family who can't afford to buy a special 10-footer tree, his greedy boss Pete, steals all of Mickey's money and sacks him. Pete then accidentally puts his lit cigar into his pocket with Mickey's money without noticing, which sets himself, the money and his trees on fire. Meanwhile, Minnie's bonus from her stingy boss Mortimer Mouse proves to be nothing but a fruit cake. After playing music for a toy drive with the Firehouse Five, Mickey has the idea that he can trade his harmonica for the gold chain. The shop is closing when he gets there and the owner who is just leaving isn't interested in the harmonica, but changes his mind after hearing Mickey play it.