Lyric provided by www.seekalyric.com

You know I have a theory on this Santa Claus stuff

Elvis is Santa
And you know a they say Santa is everywhere
and they say Elvis is everywhere
And you a they're both fat
You know and the one day of the year
you never hear of Elvis performing was on Christmas
and you know Santa well that's the one day he works all year.
And a well you know there's a couple other theories here
you know Elvis makes a lot of money performing
and well Santa got have a lot money to give all those gifts away
Well and the last one is that no one really know where they're at
And so maybe Elvis is Santa or maybe Santa works for the CIA