Jim and Della are an extremely poor couple, who both struggle to get their significant other the perfect Christmas present with the limited funds they have. Jim is infatuated with Della's beautiful, long hair and decides to sell his prized possession and family heirloom to purchase a magnificent set of bejeweled combs for his wife. Jim's only valuable item is his gold watch, which originally belonged to his grandfather. Ironically, Della sold her beautiful locks in order to buy Jim an expensive golden chain for his valuable watch. Whenever Jim comes home, he is astonished to discover that Della has cut her hair. After Della opens Jim's gift, she shows him the watch chain she purchased with the money from her hair and Jim simply smiles as he sits down on the couch. Although both presents were virtually useless, Della and Jim are considered wise for selflessly giving gifts of love, which make them similar to the magi.