We were young and broke, but we didn’t care
You had your pocketwatch, I had my golden hair
We were just scraping by, waiting to make it big
I was an ingénue, you were just a kid

But it was Christmas eve, didn’t know what to do
How could I hope to buy some kind of gift for you
Ain’t got no trust fund hon, ain’t got no savings bond
Just got my student loans, the clothes that I’ve got on

I want to give you something that I can’t afford
Let you believe with me we’re really not so poor
You see that package waiting underneath the tree
It’s just a token of how much you mean to me

Frankincense (here’s what I wish, what I imagine)
Gold and myrrh (that I could give, give what you are worth)
Put them in (this is the gift, gift of the magi)
The manger (it’s not a fraction of all that you deserve)

I used to window shop, I would never tell
There was a pair of combs made out of tortoiseshell
I tried them on one time, put up my long long hair
If I were rich and famous that’s what I would wear

You wore your father’s watch, it was a vintage piece
It made you feel like fifty million bucks at least
But it was fastened with a flimsy nickel chain
You wanted better but you said it’s all the same

I want to give a token to you of my love
A little luxury to keep your spirits up
I’ll cut and sell my hair, the only gold I’ve got
To buy a golden chain for your pocketwatch

Frankincense (here’s what I wish, what I imagine)
Gold and myrrh (that I could give, give what you are worth)
Put them in (this is the gift, gift of the magi)
The manger (it’s not a fraction of all that you deserve)

I can’t forget the look that flashed across your face
When I walked into our apartment late that day
And I took off my hat revealed a pixie cut
Gave you a little box told you to open up

You pulled out the golden chain that lay inside
Were you about to laugh were you about to cry
You said I shouldn’t have, because your watch was sold
So you could buy for me a pretty pair of combs