Stockings are hung by the chimney in remembrance of the generosity of St. Nicholas. Out of compassion he was said to have tossed three coins down the chimney of the home of three poor sisters. Each coin fell neatly into stockings left drying by the hearth. Therefore, we leave out stocking out in hopes that a similar bit of good fortuned will befall us. - Snopes.com
Happy Holidays and Happy Friday!