Research : Christmas Stocking

A Christmas stocking is an empty sock or sock-shaped bag that is hung on Christmas Eve so that Santa Claus (or Father Christmas) can fill it with small toys, candy, fruit, coins or other small gifts when he arrives. These small items are often referred to as stocking stuffers or stocking fillers. In some Christmas stories, the contents of the Christmas stocking are the only toys the child receives at Christmas from Santa Claus; in other stories (and in tradition), some presents are also wrapped up in wrapping paper and placed under the Christmas tree. Tradition in Western culture dictates that a child who behaves badly during the year will receive only a piece of coal. However, coal is rarely if ever left in a stocking, as it is considered cruel. Some people even put their Christmas stocking by their bedposts so Santa Claus can fill it by the bed while they sleep.

For more information : http://en.wikipedia.org/wiki/Christmas_stocking

Christmas Stockings

According to legend, a kindly nobleman grew despondent over the death of his beloved wife and foolishly squandered his fortune. This left his three young daughters without dowries and thus facing a life of spinsterhood. The generous St. Nicholas, hearing of the girls' plight, set forth to help. Wishing to remain anonymous, he rode his white horse by the nobleman's house and threw three small pouches of gold coins down the chimney where they were fortuitously captured by the stockings the young women had hung by the fireplace to dry. http://www.allthingschristmas.com/traditions.html