This clip is from Letterman's "Old-Fashioned Christmas Show" from Dec. of 1987. It's a take-off of smarmy old network TV Christmas shows.
(Update: Nov. 2012) When I uploaded this clip two years ago, I intended it to be a funny reminder of all those contrived Christmas shows we watched when we were growing up. It's also a dead-on parody of the Bing Crosby/David Bowie Christmas show segment which I USED to have here on YT before I got the Royal Smackdown from the Crosby estate and YT. But, I never meant it to be a dumping ground for all this hatred and name-calling. So, I'm left with 3 options: either I have to start blocking people OR disallow comments OR take the darn thing offline completely....it's your choice. Merry Christmas.