No, that's not where Santa Claus lives nor his little helpers although that's probably where they'd love to spent their vacations. Christmas Island is located in the Indian Ocean and is just a remote exotic island.

The only fun fact is that it was discovered on Christmas Day in 1643 by Captain William Mynors from the British East India Company. It's now part of Australia after being invaded by Japan for a little while. There's only 18% of Christians there so Christmas is not even a big deal there. But I'd still love to spend by Christmas break there instead of cold Paris. I mean if I had one.