Ricky Caldwell, the younger brother of Billy, the infamous killer Santa, is confined to a mental institution and recounts his traumatic past to a psychiatrist. He details how their parents were brutally murdered by a criminal in a Santa suit and later, how they were raised in an abusive orphanage run by rigidly strict nuns. These horrific experiences, combined with witnessing his brother's brutal punishment and demise, contribute to his own psychological breakdown.

Ricky grows up and tries to lead a normal life but is haunted by violent urges. As he narrates his life story, he progresses from small acts of defiance to full-blown vigilantism, targeting those he perceives as deserving punishment. His repressed rage eventually culminates in a series of increasingly brutal acts. The film builds tension through Ricky’s disturbed mindset and flashes back to pivotal moments that pushed him over the edge, leading up to his final, more sinister plans.