I learned about this a couple of weeks ago because Portia and Babs are going to an Ugly Christmas Sweater party and were looking for appropriate garb. I didn't have any (because they threw my beloved -80's Christmas sweatshirt with light up twinkly lights out a few years ago), so they went over to their aunt's and ransacked her closet. They concluded that none of her sweaters were really ugly ENOUGH, so now a trip to TJ Maxx and Steinmart is planned for the weekend.
Apparently Ugly Christmas Sweater Parties are all the rage. You can get information about how to have one here. And here's a blog with a plethora of examples for you--but if you're like me you'll be thinking: "some of those aren't THAT ugly." But some of them are. If you live in Texas you've seen plenty of cowboy Santa themed sweaters like the one shown above.
Finally, here's a great timewaster for you. Click on this link and you can make your own virtual ugly Christmas sweater, stick your photo on it and email it to your friends! That's 30 minutes I won't be getting back.