The Rifftrax version has the whole uncut and badly out of sync movie.
I went to the live showing of rifftrax Santa. I thought they did a good job and it was funny. Mike actually said the director grew up around carneys and this was prob the type story that appealed to him - Santa, Pitch, Merlin, etc. I have not seen the original mst3k Santa in years, but I remember it as funny.