Interesting mixes here, I guess everyone develops their own brand of Xmas based on the practical, the traditional and the emotional blackmail that is family duty
This year it's just Jane and I and the three boys on Xmas day so we will be having the Xmas menu of our choosing. Bacon rolls for brekkie, a fishy style late/light lunch of smoked salmon, mackerel, prawns, etc and then the main meal will be a variety of 'luxury' nibbles followed by cheese, fruit and crackers....and maybe a bottle of red or two may be breeched. The best bit is there'll be no big table to lay and mountains of dishes to clear. Even our main meal will be buffet style on the coffee table and we'll probably put on a cheesy movie to accompany it. It's a Wonderful Life, Groundhog Day, Scrooged, Muppets Xmas Carol are all candidates for this year.
For presents then Jane and I don't exchange gifts and nor do we take gifts from the boys...this applies to birthdays, valentines, mothers and fathers days as well. Instead we put the money that would have been spent(it all comes from us anyway) towards doing something special as a family. As for presents for the boys then the main gift will be some dosh into each of their bank accounts to allow them some January online retail therapy. On the day itself they each get a small amount of folding in a card, some useful/needed parcels to open and the silly stuff in their sacks left at the ends of their beds. That's our most traditional bit and I can't imagine not making up a sack for each of them nor can I imagine not having the five of us all piled onto our bed in the morning while they open them.
This is a constantly evolving approach, though the core essentials have been pretty steady for a few years now. Just most years we've had to do 'our day' on Boxing Day due to family commitments.