There are a series of these "Old lady swallowed..." books. This one is exactly the same as all the others. An old lady swallows a bunch of parts, then coughs up something more complete.
This is the Christmas version. She swallows bells and holly and stuff and coughs of Christmas, basically.
There is nothing overly redeeming about it. It's got no moral or message or any educational value whatsoever. But it's a fun bedtime book for kids. And there is nothing wrong with a book that's just fun! Anything that encourages kids to read is a good thing!!!
The illustrations are colorful and match the text perfectly. (Oddly I've noticed that's not always the case on kids' books lately. Sometimes the illustrations don't match the story well.)