Island of the Pixies (2003)

When a mythological Greenlandic ice diamond which is gathered once a year and given to Santa Claus for safe-keeping is stolen by a fake Santa, it prompts deep concern in the international pixy society. The fake Santa has travelled to the island of St. Croix to establish a new, commercial center of Christmas. The Danish pixies of St. Croix, who were left there when Denmark sold the islands in 1917, discover this and send for the internationally renowned group of pixies, Nissebanden. Unfortunately there is only one member left of the old group, but assisted by a new young member they are ready to help. Meanwhile, what's going on back in the ambitious town of Holme-Olstrup?