This story is told in 2 parts. Creator credits from Archie 1000 Page Comics Jamboree. Archie # 517 (apparently the original publication) credits Greg Crosby for script and Bob Smith for inking.
Archie and the gang are told by Mr. Weatherbee that holiday decorations are not allowed at school. Determined to celebrate the season, the gang decides to decorate themselves as an expression of Christmas.
Betty Cooper; Veronica Lodge; Sugar Plum; Santa Claus
Synopsis
Both Betty and Veronica feel badly about their presents to each other: Betty, because hers to Veronica are homemade and inexpensive, and Veronica because hers to Betty are so expensive. Betty feels she should spend more money and Veronica feels she should make something homemade and from the heart. Sugar Plum makes them realize that they love their gifts from each other.
Archie and the gang are over at Veronica's decorating her Christmas tree when Jingles shows up. He and Jughead shatter a priceless vase owned by Mr. Lodge. Jingles then fixes the vase with his magic.
Fed up with the Anti-Santa -- namely Reggie Mantle -- Jughead decides to give the prankster a special Christmas present, much to the dismay of the rest of the gang.