Two women are interviewed about their elaborate sexual fantasies, which play out for the viewer.

After five years of marriage, Stephanie is unsatisfied with her husband Al, she then visits a house of prostitution run by Josephine Farmer. She gets hired as a part-time lady of the afternoon after Farmer tests her lesbian style. Meanwhile Al beds down with next door neighbor Ginger, on the pretense of bumming a cigarette from her. Stephanie gets a first customer who's quite uptight and she relaxes him patiently bringing him to a money shot. Hubby Al finds the madam's business card in a book Stephanie was reading, and he heads there, nicely serviced by whore Toni.

Carol Scrooge, the curmudgeonly owner of a sleazy skin publication, insists that her employees work on Christmas. However, on Christmas eve, Miss Scrooge is visited by three ghosts, each of whom shows her a different vision of Christmas, from Carol's lurid past of sexually manipulating her childhood friends to the meager Christmas celebrations of her present-day employee, Bob Hatchet and his wife, to a terrifying and sleazy vision of Christmas yet to come; each visit is infused with a barrel of laughs and a valuable lesson about the importance of giving and holiday spirit.