Vicious gangster Arms Akimbo is selling "Oops! Insurance" and terrorizing anyone who refuses to pay the premium. Meanwhile, Freakazoid is consumed with finding the perfect Christmas presents for his friends and enemies.
- Arms Akimbo
- Bo & Malachi (Arms Akimbo's henchmen)
- Coffee store clerk (voiced by Jeff Glen Bennett)
- Cave Guy
- Sergeant Mike Cosgrove
- Frightened old lady (voiced by Tress MacNeille)
- Girl in line for Santa (voiced by Tress MacNeille)
- The Huntsman
- The Lobe
- Emmitt Nervend (as corner Santa)
- Steff (mentioned)
- Store Santa (voiced by Frank Welker)
- This segment provides a flashback to the annual Superheroes-Villains All-Star Benefit Softball Game. Freakazoid, Lobe, Cave Guy and Arms Akimbo all played in the game; the Huntsman was an umpire.
- This is the second Christmas episode in season 1, following "The Chip."