No, there are no sleighs or reindeer on Christmas Island. There is not even any snow.
What there is, however, is an abundance of wildlife, some of it quite unique from anywhere else in the world.

Australia governs Christmas Island. It sits almost 1500 miles from the city of Perth, however, and is actually much closer to Jakarta, Indonesia. Only 1500 inhabitants call the island home.

A national park covers more than half the island, making it a nature lover's dream. The small but growing tourist industry makes this tiny piece of land a reasonable tourist destination; despite the steep price of a flight into C.I., which is around $1000.

The island has an abundance of outdoor possibilities. Offshore, the Indian Ocean is teaming with aquatic life. Most of the coast is rocky, though there are a few sandy spots.

The main event on Christmas Island is the wildlife. There are several rare species of birds and crabs, including red crabs. The red crabs hatch on the island, then journey en mass to the sea. During this time, there is more or less, a moving carpet of red covering parts of the island.

There are also several types of plants and flowers unique to the island. The Christmas Island National Park has some good information about what the island has to offer.

And, yes, they do celebrate Christmas on Christmas Island. But only once a year.