So, I just re-watched this thing and I feel like I was able to really apply some leftist analysis to the movie, but also want some help hashing it out.
The "Bumble" or, Abominable Snowman, is obviously the USSR. Released in 1964, it makes sense that even though McCarthyism had passed by then, the USSR was still giving the USA the creeps. So it was portrayed as "the looming threat". Bonus points for it being a creature from the frozen tundra - pretty on the nose there.
Speaking of noses, I can't decide if Rudolph's birth defect is homophobic or more literal "red scare". I guess it could be both, since gays were seen as "degenerates" who would ultimately undermine the fabric of good ol fashioned American values, so they were probably on par with "commies" back then.
But then again, Hermey was definitely the gay-coded character, so why have two gay characters? Another on the nose characterising because nobody wants to be a dentist. Not even dentists. And that fits perfectly with how straight Americans viewed homosexuality at the time - nobody wants to be one, and even the gays don't want to be one (according to the straights).
And then Cornelius. The American. Free market, opportunist, boot straps, Money and Freedom (TM). Pretty much the "real hero" of the story for defeating the bumble (communism) and then putting him to work in an American factory at the end.
Santa's just an asshole. The wife is a nag (I can see where boomers get their one joke WIFE BAD HAHA). And the lion is...the lion of judah? So there's also some pro-zionist christianity thrown in there, talking about how the lion rules the land of misfit toys and they're all sad because they don't have a real home. Gee, no fucking clue what that could be about.
Anything I missed?