The album was a combination of original music, standards and comedy vignettes. Most of the traditional songs were given a campy twist. The title is a double entendre; though it is a phrase associated with Christmas and Santa Claus, the term "ho" also refers to a whore or prostitute. The album's cover features three scantily-clad versions of RuPaul, and the back cover features her legs with panties around the ankles; these are the "three ho's".
Absent from the album is RuPaul's R&B version of "Little Drummer Boy", which was recorded and released by Tommy Boy Records in 1993. The clashing of record labels with this album prevented its inclusion.