See the next 1988 can.
Circa 1988. This second can shows Santa in 1943. Also notice the gold pull-tab. The can reads:

SANTA CLAUS & COCA-COLA
A TRADITION SINCE 1930
The model for Sundblom's original Santa was a retired Salesman, but after his death, Sundblom who had aged into a seeming caricature of Santa, became his own model.