Early Christmas morning Peter awoke. He heard a noise in mother's room. So he knew that he might get up.

He pushed open the door. "Merry Christmas! Merry Christmas!" he shouted.

"Merry Christmas," said mother, hugging him tightly.

"Merry Christmas," said father, tossing him up into the air. "Did you see Santa Claus last night?"

Just then Polly ran in. "Oh, oh, it is Christmas!" she cried. "Merry Christmas! Merry Christmas! See what I found in my bed."

It was a box of animal crackers. They were all sheep.

"O father! You did it for a joke. You know I do not like mutton."

Peter ran to look in his room. He thought a joke might be there, too.

"See, see!" he shouted. "I have found a letter box. That is not a joke."

"Look inside," said father.

Peter looked. There he saw a very small pony. It was made of cloth. On its back it had a cloth monkey.

"A joke, a joke!" cried Polly. "Your pony came in your letter box after all."

There were to be no more presents until after breakfast. So the children dressed quickly.

It was hard for them to eat anything.

At last Polly said, "I cannot wait another second. I will eat my breakfast with my dinner. Here comes grandmother. Now may we open the door and see the tree?"

"In just a minute," said father. "You say 'Merry Christmas' to grandmother. I have one last thing for the tree. You may come in when I call." And out he ran.

"I wonder what it is," said Polly. "I can hear him coming back through the side door."

Then grandmother came in, and Polly forgot to wonder any more.

At last they heard father shout, "Come!"

Polly opened the door, and the children rushed in.

"Oh! Oh!" said Polly.

"Oh! Oh!" said Peter.

Such a beautiful tree they had never before seen. It was hung with strings of popped corn and red cranberries. It was covered with colored balls and big gold stars. Over it was white, shiny stuff that looked like snow.

It had candy bags and oranges. At the top, there was a doll with wings. And there were many boxes and packages.

"Oh! Oh! Oh!" said both children again.

"Do you like it?" asked mother.

"I never saw anything so pretty," said Polly. "Is that a fairy at the top?"

"I think it is Santa Claus's little girl," said Peter. "I should like to have her for my own."

"Should you rather have that than anything else here?" asked father.

"I think so, father. May I?"

"Walk around the tree and see if you are sure, my son."

Peter did as he was told. He had not taken many steps when he jumped back with a cry.

"What is it? What is it?" he asked.

Polly ran forward, and what do you think she saw?

On the other side of the tree something moved. Polly saw two large eyes, two long ears, a brown head, and then she knew that it was a pony.

"Peter, Peter!" she cried, "here is the pony! It is on the Christmas tree! O Peter, Peter, Peter!"

"Lead her out," said father. "She will come with you. She likes children."

So Polly took hold of the little strap. And the pony walked out into the room after her.

"Her name is Brownie," said father. "She is grandmother's present to you and Peter. She is half yours and half Peter's."

"O grandmother!" cried Polly. "I thank you now, but I will thank you better by and by."

"Which half is mine, grandmother?" asked Peter.

"Half of both halves," said grandmother. "Why?"

"Nothing," said Peter. "I love both her halves. And I love you, too. And I love the tree, and Christmas, and everybody."

"And so you should," said father. "Come now, we will take Brownie to her stable. Then you may get the presents off the tree."