Oh easy!For me, it would be Caroling and contributing any earnings to Childrens Hospital, listening to holiday concerts, and a nice big meal with family! All of which I have done, admittedly *with* the present thing intact, but still. I really think that, especially as I am not a kid any longer, these other things actually mean more to me than the exchange of presents.
The song "Emanuel" brings me to tears whenever I hear it. That to me is more of what X-mas is supposed to be about.