As a child I used to love the presents, all those amazing gifts, like a Sega Mega-drive with Sonic The Hedgehog, or the Lego Technic car I got, spending time with my grandparents and extended family, playing daft board games, etc.
Christmas is a little more effort nowadays, all the shopping and organizing, planning which family to stay with, what gifts to buy, which days to book off, and what to do for NYE. It takes more work, and it's not quite as fun or the same as it used to be, but I still enjoy it, more-so for the time off work.
Last NY spent in a little town called Hebden Bridge, my girlfriend, a mate of hers and I drank champagne and cooked a meal, then wandered up the side of the valley and watched all the fireworks go off at midnight, then we sauntered down to a nice little local pub to have a few pints before retiring relatively early.
Most important thing is spending it with friends family and loved ones obviously, I can imagine a lot of people aren't so lucky to have people to share it with, and feel quite lonely over this period.