The most common and most likely answer to this crossword clue is the 6 plus 5 letter word SLEIGH BELLS
I've seen this crossword clue in The Times
S
L
E
I
G
H
B
E
L
L
S
More clues leading to the result SLEIGH BELLS
Buddy explains!
The straight part
We know that "that we might hear at Christmas" is the straight/definition part of the clue. The straight part is often a synonym or definition, in this case that we might hear at christmas = sleigh bells.The cryptic/wordplay part
In cryptic crossword there's often an wordplay/cryptic part as well.This part involves a more complex hint, such as an anagram, homophone, hidden word, etc.
Sadly, We don't have an explanation for this specific crossword clue yet.