I went with the left column. A while back I found the cute Santa's Belt washi tape at my LSS and *had* to buy it. Originally I was thinking gift tags, but it sat there unused until I pulled it out for this ATC (Christmas is still coming though!).
I also had some fancy tags that I'd purchased so I slathered some red paint on one of them for Santa's body.
I finished this up with a quick, hand-cut beard, Stickles 'buttons' and an embossed green background.