For years I bought fabric just because I loved it. As a result, I have a huge stash and may never use it all but I still love most of it and it makes me happy to find a new design in which I can use up three or four old favorites. Now, having said that, I think that buying fabric as you need it for a specific project is a much more sensible approach, much more economical and saves having to find a place to store all that. Any quilt will work as a Christmas quilt--Dresden plates are pretty, any scrappy type quilt. Just pick something you really want to make and make it up in Christmas fabrics.