Rating: 3.5 out of 5.

All I want for Christmas is a holiday slasher. Fortunately, we’ve been gifted a jolly (and bloody) good time with Tyler MacIntyre’s It’s a Wonderful Knife. Written by Michael Kennedy (Freaky), the snow-capped slasher operates as a horror rearrangement of It’s a Wonderful Life. From its heartwarming Hallmark tone down to its theme about thankfulness, it carves out a special place that’ll make for a yearly ritual when the time jumps back, the temperature drops, and flurries decorate the sky. It’s a perfect Christmas feature that’ll both terrify and thaw out your heart.

With holiday cheer in the air, the town of Angel Falls readies for all the usual festivities. Despite Mayor Henry Waters (Justin Long) breathing down everyone’s necks, as he hopes to turn the town into a commercial hub called Waters Cove, no one lets him damper their spirits. Long, who turns in an oddball performance, strives to make you hate him, with his plastered grin and slightly goofy intonation. But it’s fitting for a slasher that thrives on its campiness to survive.

When Winnie Carruthers (Jane Widdop) and her best friend Cara Evans (Hana Huggins) head out to a party on Christmas Eve, an angel-masked killer shows up to deck some halls and spill some guts. The killer, whose identity is actually revealed before the title card, slashes their way through a stack of bodies before Winnie roasts them like chestnuts on an open fire.

A year later, Winnie grieves the loss of a friend, but everyone around her has seemingly moved on from the massacre. They act as though nothing happened. The holidays just don’t have the same magic they once did. Winnie, who has ambitions of becoming a professional photographer, finds her life falling apart around her. Her family doesn’t understand her — her father David (Joel McHale) has the audacity of gifting her a pink tracksuit for Christmas — and her dreams of going to New York City for school are crushed.

Feeling lost and invisible, Winnie wishes she had never been born, as she gazes up at the Northern Lights (or aurora). In the blink of an eye, she’s transported to an alternate reality where she never existed, and life couldn’t be worse. Henry Waters has taken over the town; Henry’s TikTok/OnlyFans brother Buck (Sean Depner) is now the sheriff; and Winnie’s family is in shambles. Winnie had a purpose, and it took a dagger-wielding maniac for her to see it. With the aurora fading, she must find a way to return to her reality. She befriends the resident “weirdo” Bernie (Jess McLeod) to help her and soon realizes that she must once again take down the killer before time runs out.

It’s a Wonderful Knife, which makes references to Scream and I Know What You Did Last Summer, is as much a love letter to slashers of yore as the very nature of Christmas. Michael Kennedy’s fondness for slashers once again proves to be quite an asset. Director Tyler MacIntyre, whose credits include Tragedy Girls, elevates the material with a polished, rosy-cheeked twinkle — and it’s guaranteed to get you into the holiday spirit. (I’m currently listening to Mariah Carey’s first Christmas album if that tells you anything.)

What’s most surprising about It’s a Wonderful Knife is the strong emotional underpinnings. It’s not just a slasher. It’s a commentary on grief and suicide, capturing rich character moments that give it plenty of weight. As Winnie and Bernie’s friendship grows, there emerge important reminders about nurturing relationships, allowing yourself to mourn, and finding meaning in the everyday. Life is as good as you make it, and sometimes, all you need is a bit of perspective.

From its strong lead performances to its gleaming starlit cinematography, courtesy of Nicholas Piatnik, It’s a Wonderful Knife is a wonderful dash through the snow. There’s a charm in its melodrama, which assuredly won’t work for every viewer, but it’s a real candy-coated treat.

It’s a Wonderful Knife hits theaters this Friday (November 10).

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