A film director screens a drama he made in 1977 in which actors play Julian Devonshire, his little son Toby, pregnant second wife Kathy and his mother Celia who are spending Christmas at a ski lodge in Austria. Local guide Klaus tells them the legend of the Krampus, a malevolent demon who punishes bad children and rewards the good and soon it looks as if the demon is stalking the family. Celia takes Toby to safety, leading Kathy to make a confession to Julian about her pregnancy. Something terrible follows.