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1.
A time of year that is extremely magical and exciting when you're young, then becomes less exciting as you get older.

ages 1-5: Believe in santa, super excited, everything is new and magical, get a ton of gifts

ages 6-10: May or may not still believe in santa, still get a lot of gifts, very exciting.

ages 11-15: Don't believe in santa, thus the excitement factor is reduced greatly. Christmas is starting to seem more like a routine.

ages 16 and beyond: Christmas is nothing new, your parents give you less because you're older. YOU actually are expected to get others gifts. Wish you could go back to being a little kid on christmas.
6 year old at christmas time: "Santa is coming soon! I'm so excited! I wonder if he'll bring me a race car that I asked for!"

17 year old at christmas time: Studying for finals, Christmas comes and all they get are socks.
by WWWJ95 December 21, 2011
 
2.
The space time flux experienced during the 2 to 4 week prior to Christmas. For young children, time seems to slow down. For the parents of said children it seems to speed up.
Little Jimmy: 2 more weeks of Christmas Time, how can I wait that long?

Jimmy's Mom and Dad: Ahh! We only have 2 more weeks of Christmas time to buy all of toys for the kids!!
by AzureBlue November 23, 2009