How about a super-cheesy holiday horror movie?
This one has a great cast. Douglas Smith, Emilie de Raven, Robert Culp, Dave Thomas, Saul Rubinik, Rebecca Gayheart, Chris Kattan, and Fran Drescher, with professional wrestler turned actor Bill Goldberg as Santa.
Written and directed by David Steiman (his only effort in both), Santa is really a demon who had lost a bet with an angel. After many years of being a good Santa, he has finally reerted back to his demonic, murderous way. Cheesy dialogue, jiggling cleavages, and inventive deaths...What more could you want?