A Christmas at Project Pegasus! Actually, it’s at the Baxter Building, but Project members—along with tons of others—are all invited.
Alicia Masters’ evil dad, Puppet Master, is at the party and acts sad. Alicia wants to know what’s wrong, and he tricks her into getting the FF to give him a Christmas present: A trip back to his old country—where, unbeknownst to his daughter and her Fantastic extended Family, he gets his special puppetmaster clay.
They go, and have a run-in with Modred the Mystic.
A bit scattered, but not bad as far as Very Special Christmas Issues go.