The show was all-right. It had some fun sequences, and holds up all the way throughout, it just didn't especially sparkle all that much.
One place where it did shine was a lovely song, "I Wish I Could Be Santa Claus," sung by Gonzo and Fozzie Bear. A song, needless-to-say, that I'd never heard of. The plot of the show is that the Muppet gang has to deliver three letters to Santa on Christmas Eve that Gonzo screwed up mailing after making a promise. They give their word to help him and try all manner of delivery, but all fail. They finally try one last thing, and that's going directly to the North Pole -- but although they make it just in time, they find that Santa has just left on his sleigh. Which leads to this moment.
One thing worth noting. The songs in the special are all written by Paul Williams, who famously wrote what became the Muppets' signature song, "The Rainbow Connection."