|My company goes all out for Christmas. The company is owned privately by the President and he gives HR a loooot of freedom to make sure we always have awesome parties.
Our Christmas party is always at a nice hotel or banquet room. Semi-formal. Everyone from around the world gets flown in to attend the party. You can bring a partner with you (Doesn't have to be spouse, could just be a friend). Open bar pretty much all night. Food is high quality. Entertainment is done partially by the employees themselves. We have our own rock band that practices for weeks before the party, complete with several different singers and even some awesome dancers that did some cool choreography!
On top of that everybody got brand new 8GB iPod touches. Even better than that, every year we get the usual stat holidays for Xmas and New Year's, but everyone also gets those annoying days in between off as well, without having to dip into your regular allotted vacation time. So no one comes into work between Xmas and New Year's!
Our Christmas parties are usually pretty awesome, but this year's party was definitely the best. That's probably why we have 90-95% attendance!