Della is upset because she does not have enough money to get her partner a good Christmas present.
BELLA BUYS JIM A PRESENT
She has been saving for months and she only has $1.87 to buy her husband a gift.
SHE HOPE JIM LIKES IT
Cuts off her hair that she loves alot to get more money so she can buy a decent present for Jim.
DELLA AND JIM TRADE PRESENTS
Della buys Jim a chain fob for his pocket watch.
Della hopes that Jim is happy with his present and that he still loves her even though she cut off all of her beautiful hair.
Jim comes home and he loves the gift and the sacrifice she made to get the chain. The way she looks does not make him love her any less. The only problem is that he sold his pocket watch to buy her combs for her hair!