Okay, so, basically this song is about a kid who saw his mom making out with Santa Claus under the mistletoe, right?
But lets stop a second and think about the message behind this song. What was going through Mommy's head while she was tounge twisted with Jolly 'ol Saint Nick? I think the message song really sends is: You weren’t that good this year Timmy, but Mommy wants to make sure that you get that iPad you’ve been begging for. Go back to bed so she can make sure Santa gives you that iPad and a MacBook Pro in your stocking. Things have been hard since your good for nothing Daddy ran off with that Rockette.
Moral of this song: Your Mommy is a whore, Timmy.