Is it right for children to believe in myths? By encouraging such myths, are parents lying to children? Moreover, do these imaginary figures undermine religious faith and encourage materialism in children? This text explores how the children themselves give meaning to Santa, the Easter Bunny and the Tooth Fairy. Through interviews conducted during holiday periods real-life settings ranging from homes to shopping malls, it examines whether believing in these figures is good or bad for children. Using the childrens' own insights, it offers interpretations on topics, such as tooth loss, Christmas and Easter customs (including the Easter egg hunt) in contemporary America.