The Smissmas Stocking is an Item that will enter your inventory whenever you launch Team Fortress 2 during the Smissmas Update event arrives every year in December. Usually ending on January of next year.

Opening it will give the user multiple items that will be Not Tradable or Marketable.
Which I will mention in the next tabs.
But head's up! You won't get ALL the item's mentioned, As it will only select some.

Typical Item Drops


It's not surprising It'd give you a weapon... But it gives you from two to three
Any base weapon in the game like the Scottish Resistance or the Kritzkrieg.
However it also has a chance of giving cosmetics.

Name and Description Tags


Free tags! One of each.
Don't worry, Applying them to an item won't make it untradable or marketable.

Giftapult


If you're feeling generous, you can slap one of the random items in your inventory and send it out to a random player that's on Team Fortress 2 with this... Can't decide who it goes to.

Paint Bucket's


Originally you could get Tour of Duty tickets from the stocking... But the Paint Bucket's replaced them Removing the Free to Play's only opportunity of playing Mann Up for free.

Like the Tag's, applying them to something won't make it untradable or marketable.
Some paint's cannot be obtained fro the stocking, here's the list.

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A Color Similar to Slate
A Distinctive Lack of Hue
A Mann's Mint After Eight
An Extraordinary Abundance of Tinge
Dark Salmon Injustice
Drably Olive
Pink as Hell
The Bitter Taste of Defeat and Lime
The Color of a Gentlemann's Business Pants
An Air of Debonair
Balaclavas are Forever
Cream Spirit
Operator's Overall
Team Spirit
The Value of Teamwork
Waterlogged Lab Coat
Mann Co. Painting Set
The Color of a Gentlemann's Business Pants

Backpack Expander


A bit of space never hurts! Free 200 slots for you.
From what I've seen this is the only item you won't get every stocking.

The Smissmas Sweater Warpaint


A free warpaint... guess that makes it three free weapons.

The Smissmas Sweater Warpaint is a Warpaint that's only obtainable from the stocking, appearing as a Sweater themed Warpaint with Red Green and White. Not loved by many but it's something.