This is so fun and original that it deserves to be famous. I will forever wonder -- why did they change the "We're a Couple of Misfits" song to "Fame and Fortune" just one year after first airing? The new song degrades the story, is not animated as well, and isn't as fun or clever. Sure, it's a little shorter -- is that why? No one seems to know what motivated this change. The DVD has the original song. Hooray for DVDs! The Rankin/Bass studio must have been a very fun place to work.
I love it when Santa hears the elf song, and then just says, "It needs work. I have to go."
And I know it's juvenile, but I giggle every time he says "Every year, I polish up my jingle bells for eight lucky reindeer." Somehow, I don't think that would have made it in nowadays. Sorry to infect you with that unwelcome meme.