It’s rather pedantic and cheesy.  It tells of a selfish, whiney, demanding little bear who has created a long list of all the things he wants from Santa, insisting that if he can’t have them all it won’t be a happy Christmas.  When Christmas arrives, his cousins do too, and they get most of the things on Little Bear’s wish list, but all he gets is a folded piece of paper that he refuses to even open.  He sulks for a while, then decides to help each of his cousins with their toys, until his father reminds him that he forgot about his note, which directs him to look under the stairs, where he finds the last item of his wish list, a tricycle, which he decides to share with his cousins.