are special drops available during the Christmas
holiday season (December 15th-31st), having a chance to be dropped by any enemy except an enemy spawned by statues. Presents will even drop on worlds created prior to the 1.1.1 patch and lacking a snow biome. The chance to drop a present is 7.69% (1 in 13). Presents may only be opened when in a player's inventory; trying to open a present in a chest will not work. Also, when it's not the Christmas event, you can't open presents.
Before 1.2.2, presents came in three colors (Yellow, Green, Blue), were not stackable, and contained only Candy Cane Blocks, Green Candy Cane Blocks, and hardmode-exclusive Snow Globes. The 1.2.2 update introduced new Presents that were stackable and contained a larger variety of items, leaving previous Presents untouched.
As all enemies have an equal chance of dropping presents, players who are specifically trying to acquire them should focus on areas with high spawn rates and easy enemies. Battle Potions and a Water Candle make more enemies spawn, as does fighting in the Jungle or during a Blood Moon. Players may also gather presents as a by product of other activities, for instance while farming Pixie Dust or Cursed Flames.
An effective way to quickly farm presents is to fight the Eater of Worlds. Since each segment of this boss counts as an enemy, players that are powerful enough to destroy it with ease can obtain many presents provided the segments are destroyed where the player can collect their drops easily. The only downsides to this method are obtaining the needed materials to craft Worm Food and the difficulty the fight poses for less powerful players.
An easy way of doing this for players in hardmode is to summon a Pumpkin Moon or Frost Moon at floating island level. None of the event enemies will spawn up at this level, but the spawn rate of Harpies and Wyverns is drastically increased. This allows for easy, fast collecting of presents.
In hardmode there is a 6.67% (1:15) chance to receive a Snow Globe. Otherwise you receive the same loot as in pre-hardmode.
If you missed the holiday seasonal event and you just can't wait, changing the date on your computer or console offline (on console you can't change the date and time online because it is set automatically while online) to between December 15th - 31st WILL allow you to receive presents from monster drops as well as spawn the frost legion
and have Santa Claus
move into your home.