This just in -- on the radio as I type (not "bad" so much as "unconventional"):

"Santa Claus is smokin' reefers / Santa Claus is smokin' tea.."

Sounds like 1930's, boogie-woogie piano and vocals. Hopefully, they'll announce the artist before long.

....[20 minute delay]...[no announcement]...[calling the station]...

The title is "Santa's Secret," sometime listed under the name of Slam Stewart (bassist), other times under the name of the vocalist Johnny Guarnieri, can be found on a Savoy (label) Christmas CD.