Peter enlists his sarcastic one-legged friend Wiley to help conjure a myth based around the idea of giving. Seeing the chance to make a profit off the selflessness of others, the two cavemen create a figure that develops into the first Santa Claus but are then baffled when the "myth" they've created apparently becomes real. Substituting gain for fulfillment, Peter and Wiley experience the true meaning of Christmas.

Four thugs hold a local jeweller to ransom. The wife and daughter are raped and murdered and then he is shot when the alarm is activated. Two have-a-go hero's get caught up in the cross fire and are subsequently kidnapped. The thugs cannot believe their luck when the girl turns out to be the senators grand daughter 'another ransom beckons'.The plot is quite unique and well executed. The villains are real bad guys, talking foul mouthed, love to act violent against their hostages and brutally harass their attractive young female prey. The movie's scene at the jewelry store's family's house is very unpleasant to watch, as the one thug who stays alone with the bound and gagged mother and daughter, violates the daughter and stabs the mother to death as she tries to protect her offspring.