Yup, it's the one starring Jennifer Love Hewitt's breasts, Sigourney Weaver, Gene Hackman, Jason Lee, and Jennifer Love Hewitt (in that order :lol )

I'll update here as I get more pre-screengrabbed.

Narrator: "This is Santa's magic observatory. What wonderful instruments! The Ear-O-Scope! The Tele-Talker that knows everything! The Cosmic Telescope! The Master Eye!-- "
Crow: "-- the Pleasure Mouth!"
Mystery Science Theater 3000 521, 'Santa Claus'