Santa Claus don't miss them stockings,
He and his boys are using stockings to mask themselves during robberies. Santa can’t fill the stockings with gifts if the stockings are on mens' faces. Also a reference to being poor in the hood and not getting presents on Christmas, Santa skipped over their stockings.
Muggers also commonly check socks for loot.
Could also be justifying his robberies by saying he’s doing it for his kids. He wants them to have a better life than he did/does. So he robs liquor stores.
Could also be referring to his affiliation with Bloods, meaning, Him and his boys don’t miss those stockings cause they’re taking everything. Bloods also wear red like Santa Claus.
To help improve the meaning of these lyrics, visit "Money Trees" by Kendrick Lamar (Ft. Anna Wise & Jay Rock) Lyrics 1 and leave a comment on the lyrics box