Like right out of a music box.
The music box-y instrument is a pretty nice touch for this, gives a more christmas-y feel.
I just feel that adding some other instruments to this will really help. The whole song is high pitched, so maybe adding some other instruments like a piano or some strings would help make this better without ruining the music box mood.
Also, it seems like the instrument is slightly messed up by the EQ. Seems like the lower pitched music box changes volume dramatically when it hits certain notes...
Still, pretty good. Simple and neat.