Muppet Family Christmas--and it's not even close. It's actually my favorite Henson production ever.
MFC has tons of classic Christmas songs, appearances by most of the major Henson characters, and some truly funny Muppet moments. As a kid, it was almost surreal to see the classic Muppets, Sesame Muppets, and Fraggles interacting. They even managed to squeeze in the Muppet Babies!!