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Terr'ble Thompson was an unfortunately short lived comic created by Gene Deitch, who was better known for his work in animation. The strip only lasted about six months, but Deitch would adapt it for a Terrytoons animated series called Tom Terrific a couple years later. It lasted only a couple of years, but reruns could be seen on the Captain Kangaroo show for many years after that. Terr'ble Thompson was known as the "Hero of Hist'ry," or at least that's what he called himself. He was so called because had some kind of time traveling ability that allowed him to go to any time period and meet various historical figures.
I guess Santa Claus counts as an historical figure, because we have Thompson meeting him here. This is the conclusion to a story about Santa Claus wanting to stay home for Christmas because no one believes in him anymore. The elves seem to feel the same way. Thompson uses his shirt and hat to make Santa a "beard cozy", which rejuvenates him and his elves and makes him want to give out presents at Christmas again. The decision to stay home must have happened at the very last minute, because the 4th panel makes it look like the presents were all ready to go but just weren't loaded onto the sleigh yet. Maybe Santa didn't really want to stay home, but was just thinking about it. Good thing Thompson gave him the little push he needed in order to make the right decision.