Q: What is the best Christmas present ever?
A: A broken drum- you can’t beat it!

Explanation:  Merry Christmas and feliz navidad!

Christmas is celebrated by Christians on December 25; it celebrates the birth of Jesus.  In order to commemorate that day many people give gifts just as the magi gave presents to the baby Jesus.  (Comments about the way the holiday has been commercialized will not be addressed here.)

Children may be given a toy drum as a gift for Christmas.  Of course if the drum is broken you cannot play it; to play a drum is to beat a drum.  Therefore, a broken drum cannot be beaten.

The phrase “you can’t beat it” means that there is nothing better.  If a toy drum can’t be beaten then there is nothing better.  This joke plays on the double meaning in the joke of “it can’t be beaten.”