I'll vector and shade this one in the new year, but i wanted to have the sketch finished by christmas.. so here it is.
As for pairings:
-Big Mac & Cheerilee, having fun under the mistletoe
-Apple Bloom got a painting set for christmas and Fluttershy seemed like the perfect model
-Twi and Dash both got books - though Dash will read it further after her naptime, i guess. Also, who wouldn't want to rest her head on Twi's flank?
-Rarity dressed herself up for the party - maybe a bit too much. Also, Spike gets another giant gemstone to eat.
-Lyra and Bon Bon ... well... it's Lyra and Bon Bon
-Pinkie got ropes from AJ because it seemed like a practical gift. AJ got a collar and leash because Pinkie has a different idea of what "practical" entails (that's why she loves her rope-present). Anyway, Applejack probably thinks it's for Winona.
-Scoots gets a bit of help from Derpy because they're cute together.