Okay, I couldn't possibly be any later in joining this thread, but I had to get in on the holiday-related PMM suggestion bonanza. As far as I'm concerned, these first two songs are no brainers for a holiday-styled game music CD, possibly as a medley: from EarthBound, "Snow Wood Boarding House" (aka "Snowman" from EB Zero) and "Winters." These songs are ideal, in that they are contextually winter-related within the game, but they also have the right sound to conjure up holiday images (sleigh bells and all)! Here they are in MIDI form for those unfamiliar with them:
Someone else alluded to "Ice Country" from Secret of Mana, which would also be a fine choice.
Another winter-themed song comes from the NES classic "Magic of Scheherazade."
http://mkahnfan.tripod.com/magic.nsf (Song #2 of 31)
Now, a couple that are a little more of a stretch. In FF6, Mog is originally discovered in the mines of Narshe, which is technically an icy locale...
... And the SoulBlazer town theme is used in all of the town areas, including the icy land of Laynole.
Then, there are the songs like "Toroian Beauty," which have nothing to do with the holidays contextually speaking, but certainly reflect the joyous feeling we associate with the holidays.
And for now, that's all I've got.