I'm Santa Claus to these hoes without a reindeer
This is a clever line because Santa says “Ho, Ho, Ho!”
Nicki is like Santa to these broads for gifting them the light of day in the music world just for giving them the chance to diss her and get away with it. Nicki’s dope raps are enough of a gift to bring everyone good cheer.
And she does’t even need a reindeer!
Note that Cam'ron also references Santa in his verse.
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