SHORT MONOLOGUE:
"I wrapped myself up for you. I wanted to give myself to you as a present. I thought it would be cute. I even have a song and dance for you.
Sing and dance to "Santa Baby" or "Let it Snow"
What do you think? No you can't return me!"
GAMES
There is a fun game called, "hands through or arms race." You can have two or four people come up and wrap presents. One person becomes the arms of the other person and must stand behind them. You can play Santa or a parent trying to teach their elf or kid how to wrap presents or if you have four people you can do a present wrapping race.
Mirror exercise - you and an audience member do present wrapping and they must copy exactly how you wrap it.
Melodrama - The blank that saved christmas - Have the audience come up with the blank (like the Dog who Saved Christmas) and make the blank the hero. And here is how to play the melodrama game: You narrate a story and have audience members act out the characters as you tell the story. "We have an old fashioned melodrama for you, but with a twist. The twists will be based on suggestions from the audience. We have three characters: a damsel in distress, a hero, and a villain. Audience: you will Boo at Villain, Cheer for Hero, Ahhh for Damsel. Audience will suggest... Damsel: something strange to raise on a farm, Villain: a weird form of torture, Hero: an odd weapon someone might use to stop a villain."
More improv games at http://www.freedrama.net/improv.html