This is what I found online to explain it.
This was Christmas Day when the old Gregorian calendar was still in use. It is the traditional end of the Christmas season and the last day of the Christmas holidays for both primary and secondary schools in Ireland
. In Italy
and the Spanish-speaking world, Christmas Day is strictly religious, and gifts are exchanged on the feast of the Epiphany, when the wise men (or Magi) brought gifts of gold, frankincense and myrrh to the baby Jesus.
Italian Americans celebrate Little Christmas in Italian neighborhoods like Little Italy in Lower Manhattan and East Harlem (where my family settled when they 1st came to America from Naples
). In a way it's a sad time
marking the end of the Holidays, the next day the Christmas Trees, Decorations & Lights are taken down and stored away for next year. In Italy it is a big celebration as well. Most families that have young children give them a few small gifts and
goodies; a symbolic gesture to remind them of The Three Wisemen bringing gifts of gold, frankincense & myrrh to the baby Jesus.