We did these at my grader's winter party and then the students' sang their creation. Five PRINTABLE Christmas Carol Mad Libs (Jingle Bells, Rudolph, Deck the Halls, Jolly Old St. Nick, and Frosty) by Spool and Spoon for Sumo's Sweet Stuff
Have a bowl for each category: nouns, adjectives, verbs. When guests arrive or in a class have them write one for each category and out into container. When it comes to the mad lib reading draw from the appropriate container.