Update:  No, there is no reasonable suspicion. There is no excessive nervousness, failure to make appropriate eye contact, talkativeness, or furtive movements from Santa or the elf or overpowering smell of air fresheners or obvious modifications to the sleigh for a compartment where contraband could be hidden. Also, it appears unlikely from the video that there was any a bona fide moving violation to pull the sleigh over in the first place. There was, however, no registration in hand.  That does not, however, translate into justification for the officer to ask "What's in the bag?" How many innocents are stopped and subjected to the same routine for every one that gets arrested?  Without police stop statistics, we can never know.

A few years ago, I bought an enlargement of NACDL's Champion cover that showed Santa Claus being rousted, hands up and "assum[ing] the position" at the border by officers from every police agency, going through the sleigh and his bag. The ATF bomb disposal expert examining a box is the best character of the six shaking down Santa Claus.  I pull that one out every year to get into the Christmas cheer. And this was before some of the media manufactured a "War on Christmas."