You're not alone. I was working on one for my mom but decided I couldn't finish it on time, so I put it aside for another time. I started it many years ago and she doesn't know about it. I have to say that it took a lot of stress out of me to decide I couldn't finish it.
If you must give it for Christmas, but aren't able to fnish it, take a picture of part of it and put that in a card telling them they will have it in a week or so. The last thing you want to is rush through getting it finished just because of the date on the calendar.