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The story involves all of the main pups, namely Patch, Lucky, Rolly, Penny, and so on. All main characters are also included such as Pongo, Perdita, Roger, and Anita. The story begins on a Christmas Eve, supposedly after the prior events of the original film. The puppies notice Roger and Anita acting "strangely," setting up Christmas decorations and decorating the Christmas tree. The pups ask their parents about it as they tuck in to their respective baskets, and Pongo and Perdita, in turn, explained that Christmas was the time of giving and people sneak presents under the tree for their loved ones. This made the pups curious, and when they woke up at dawn, they saw huge piles of presents under the tree. They opened the presents, and when the pups learn that these weren't meant for them, they panicked and hid themselves in the living room. When Roger and Anita saw this, they called out Pongo and Perdita. The puppies thought that they were going to be in lot of trouble but to their surprise, they weren't. They called out the pups and gave them their presents: squeaky toys. On that same evening, as Perdy tucked the puppies to bed, she again said that Christmas was a time for giving and Pongo added that it was also about "for-giving," and the pups were lucky that Roger and Anita were in the Christmas spirit. Before the end of the story, Perdy reminded the pups that next time there will be no unwrapping of presents unless they ask permission, and they should remember this. And the puppies did so, at least until Christmas came, suggesting that it might happen again.
- Although no information supports this, the story may have taken place after the events of the original film since they haven't moved to their farm yet.
- The title came the combination of two words: "giving" and "forgiving."
- This book cannot be bought separately; it is bundled together with 4 other Disney Classic books and boxed with a Christmas decor included.
- Perdita was often referred in the story as "Perdy."