This was one of my favorite Rankin-Bass productions. This particular telling of the Santa story is based on L. Frank Baum book of the same title: "The Life and Adventures of Santa Claus." The immortals are gathered by the Great Ak to decide whether or not the mortal Santa deserves the honor of becoming immortal (something the immortals can only grant once). The story is narrated by Ak and recounts how he found the young babe and watched over him as he was raised by some of the nymphs and animals that fell under Ak's jurisdiction.
As with any Rankin-Bass stop animation production the creature concepts can be wildly imaginative (and scary... the Nooks tend creep me out, but I wouldn't mind a plush version of one) and be sure that there are numerous musical outbursts as the story progresses.
This Baum story has also recently received an animated retelling. I am saddened that this particular version does not receive as much airing time, but I am very grateful that we always recorded Christmas specials when I was younger.
I recommend this to anyone who enjoys Rankin-Bass holidays escapism and has an imagination that enjoys being stimulated.