The McCarthys are setting up their Christmas tree. Katrina, Gerard's new fiance is up to her usual demeaning antics.
Sean comes in and tells the family he has the best gift for their exchange. They explain to Katrina that they do a white elephant swap, which Ronny renamed to the Red Sox swap.
Sean also tells Ronny that he found someone for him. He's a ballonist. Ronny is not impressed.
Gerard asks Ronny to come into the kitchen and he tells Ronny that he doesn't know how to tell their Mom that he will be spending Christmas Day with Katrina's family. Ronny tells him to pull off the band aid and tell her right away, but Gerard doesn't.
There is another knock at the door and it is the McCarthys tenant, Pam (guest star Alyson Hannigan). She is there to drop off the rent check, and tells the family that her boyfriend just broke up with her. She is clearly distraught over it. Marjorie invites her to their house for Christmas Eve.
It's now Christmas Eve and everyone is arriving for the festivities. Jim, who appeared on an earlier episode, is over for the holidays, and then in walks Maurice, the balloonist. We learn, however, that he is a bassonist with a symphony orchestra, and also very handsome. Ronny takes to him immediately. Maurice didn't know he needed to bring a gift so Ronny volunteers to run him around the block to the store.
Pam arrives, still distraught over her boyfriend breaking up with her.
They begin the Red Sox swap, The family goes around and various members unwrap gifts. There is a nut loaf from Marjorie, a certificate to be Jackie's baby's Godfather, and the yearly owl. They are Marjorie's favorite, and it always works out every year that Marjorie gets the owl. Katrina being the smart ass that she is, ends up stealing the owl from Marjorie. She also blurts out that Gerard and her will be spending Christmas Day with her family. Marjorie does not react very well.
As the game continues, Sean unwraps a pair of Red Sox tickets and a parking pass, and even though there was a $20 limit, Katrina was able to get them from a co-worker. Jackie is upset because no one is trying to steal Jackie's certificate that Maurice ended up with.
The owl exchanges hands between Marjorie a few more times, but ultimately, Katrina ends up with it.
Arthur and Marjorie are in the kitchen and Marjorie is coming up with a plan for her to get the owl back through Arthur.
Katrina and Gerard are also chatting, which turns into arguing over her blurting out about Christmas Day;
The family begins to fight over the game, and Pam stands up and tells the family that they need to stop arguing and being so petty about their differences.
As the game wraps up, Jackie ends up with the gift certificate to be the godfather of her own baby. She winces and tells everyone the baby just kicked, which causes all the brothers to react.
Jackie is in the kitchen drowning her sorrows in food, and the three brothers walk in and ask for the certificate. They then proceed to rip it into three piececs because they all want to be the godfather. Then they give her all the white elephant gifts they received (well except Sean, who is pretty attached to his bobblehead).
Marjorie overheard the conversation and then calls Jackie out on the fact that the baby shouldn't be kicking yet. She duped her brothers, and it worked!
As the episode wraps up, Katrina and Marjorie make up, and Philip recites a poem to Arthur (his gift). Arthur also brings out another owl, that he purchased as a back up, in the 80's.