See back of card.
Santa at the Refrigerator Cutout. To create this cutout, Coca-Cola took a good look at one of its 1947 Santas and decided that the Santa for 1948 would look great standing in front of last year's refridgerator. So they took Santa and his stool and put that stool in last year's kitchen for this cardboard cutout. They also replaced his glass with a bottle to match the bottles in the refrigerator.