Are you throwing or attending a holiday party this year? Any ideas/tips to share?
If you've got a Mac, definitely do some Photo Booth fun. Upload good picts to Flickr using FlickrBooth (http://www.otierney.net/flickrbooth). And finally you can have a nice slideshow right out of Flickr using PicLens (http://piclens.com/mac/) and a Mac hooked up to a TV.
If you've got a Wii, definitely create a Mii for each person who comes to your party. Play Wii Baseball and Wii Bowling and record the footage with all your friends hanging out in the scene, then you can use some overdub action and create funny movies.