Plenty of familiar faces are lip-syncing along, with each celeb putting their own spin on the classic. There's plenty of Santa Claus, snowmen and Christmas trees, as well as Katy Perry bouncing around with her dog, Nugget, Ryan Reynolds being his usual goofy self and Tyler Perry tickling the ivories.
Kim Kardashian West, Kris Jenner, Ariana Grande, Missy Elliott, Ciara, James Corden, Bebe Rexha and Kerry Washington all make appearances, as do the "Butterfly" singer's twins, Moroccan and Monroe.
"WOW! This is one of the best Christmas gifts I could ever have gotten," Carey wrote on Instagram. "I am so thankful to all of my friends and favorite artists who participated in this video. You brought a huge smile to my face. THANK YOU! ❤️❤️❤️."
Last week, the 49-year-old singer dropped a brand new music video for the holiday anthem, called the "Make My Wish Come True" edition, and also treated viewers to a Q&A on her YouTube channel, where she reflected on one of the biggest hits of her career.
"We wanted to make a modern classic and that has been the theme from the beginning," she said about the inspiration for the new video, directed by Joseph Kahn, adding that it is "the opposite from the original video. This is more of a production but I feel like it has the same spirit if not more."
The festive hit was originally featured on Carey's 1994 Christmas album, Merry Christmas. The chanteuse had previously revealed that she wrote the song's lyrics after the original music video was filmed.
"Thank you, oh my gosh. I can't thank you enough and, since we are talking to all the Lambs in the land, I can’t thank you enough," she also said during the Q&A about hitting No. 1. "It makes me so happy. I can't believe it. We did it."
Carey is currently in Aspen, Colorado, spending the holidays in the ski town with her twins and boyfriend Bryan Tanaka.