After saving the Cake Kingdom from the havoc wreaked from the Gingerbread Minions, all that remained was a bunch of torn wrapping paper and a lot of gingerbread crumbs.
Some of the torn wrapping paper was salvageable and later reused in other forms. Some of those crumbs were eaten, but some survivors went a questionable step further and rebaked the pieces together into something more useful than food.
Handy if you want a cheap armor which boosts your health.
Buy it if you are grinding for cash.
First armor to change the character's package.
Wearing the normal Gingerbread Package will not work and will not grant you the bonuses this item provides.
Strangely, this is still obtainable though chests, in Chronos XI, even after the Christmas event ended.