Popeye gives Olive a pair of ice skates as a Christmas present and teaches her how to skate, but Bluto interrupts the lesson to show his affection to her, but she gives him the cold shoulder. He starts to cut the ice and she floats on the broken pieces on the running river and calls to Popeye for help. As Bluto keeps punching Popeye to keep him from saving her, Olive sees a waterfall and calls for help again. Popeye punches Bluto in and out of the water in an ice cube and sends him to the ice box in the nearest town. He rushes to save Olive, but soon fells down the waterfall and climbs back up to save her. As he revives her, Bluto rolls a big snowball to destroy them, but his plan backfires and he rolls down the hill with it. Popeye uses his spinach, hits the snow out of Bluto to make it fall, hits him again, and stars appear out of him and onto a fir tree. Popeye breaks the fourth wall and tells the audience, "Seasons Greetings to you all!" and the cartoon ends.