Yuletide decor (5)
I believe the answer is:
'yuletide decor' is the definition.
(I've seen this in another clue)
This is all the clue.
(Other definitions for holly that I've seen before include "Prickly tree" , "Evergreen shrub" , "Prickly Christmas decoration" , "Prickly-leaved shrub" , "Prickly shrub" .)