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There are a number of different answers to this question, depending on which "Santa Claus Dollar Bill" you're looking for. Here are a few possible scenarios:

If it's the kind where a Santa face is pasted over George Washington's on a real dollar:

It's a novelty item that sells in stores for a couple of dollars. They're made by taking real $1 bills and pasting a picture of Santa Claus over George Washington's face. It has no interest or value to currency collectors, but if you can peel off the picture of St. Nick you can still spend it as a dollar.

There are also Easter Bunny bills, cartoon character bills, etc. that are all made the same way.

If it's a souvenir dollar from K-Mart in 1993:

The Santa Claus dollar bill was sold at kmart stores and they are legal tender and can be used for such...the value at this point would be debatable...it would depend on the buyer...The santa dollar received approval by the Departement of the Treasury, united states secret service on Feb 19, 1986 and Jan 31, 1994 under statue 333 USCA and is filed with the united states patent and trademark office No. 1674185. The Santa Dollar set is a trademark limited edition by marketing productions inc. St Petersburg, Fla.

If it is something different, or a new "Santa Dollar":

Various Santa-themed dollar bills exist and may be worth anywhere from $0.50 to $10, depending on the design and who made them.

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