Thankfully, the tape machine was running as the group launched into a spontaneous holiday flavored jam.
This jam was first released as a picture disc in 1974, then again (with much better sound quality) as a black vinyl 12" EP in 1979 which is the release you see (and hear) here.
The fellas may hit a few bad notes from time to time, but I'm certainly glad that this was released! In addition to it being a gas hearing that outrageously badASS Hendrix tone in a holiday setting, it shows the humorous side of his personality in another context. When it comes down to it, every day feels like a holiday when there's a Hendrix record on the turntable.