In the third episode of "What If…?" Season 2, titled "What If... Happy Hogan Saved Christmas?", the Marvel Multiverse delivers a holiday twist like no other. The episode kicks off with a tense and dramatic clash between the Avengers and a mysterious monster, but The Watcher swiftly rewinds the clock to reveal the true nature of the conflict: a chaotic holiday party scenario orchestrated by none other than Happy Hogan.

The story unfolds with Happy Hogan at the center of the action, stressed beyond measure as he's been tasked with organizing the Avengers' holiday party. Darcy Lewis is on hand, attempting to assist in her own quirky way, while JARVIS is unexpectedly offline for maintenance. The pressure mounts as Maria Hill, a former SHIELD officer, is on site to ensure the event goes without a hitch, adding another layer of tension to Happy's already overwhelming responsibilities.
As Happy sends Darcy on an errand, uninvited guests arrive in the form of Justin Hammer and his band of mercenaries, intent on stealing Tony Stark's work. Hammer's primary target is a vial of Hulk blood that Stark has been experimenting with to help Bruce Banner better control the Hulk. Through a series of hacks, Hammer manages to lock down Avengers Tower with the Iron Legion sentinels, leaving Happy as the last line of defense for a peaceful Avengers Christmas.
In a desperate attempt to save the day, Happy tries to contact the Avengers, but they are all preoccupied with their own predicaments, and Thor is notably absent from Earth. In a stroke of luck, Happy reaches Darcy and instructs her to find a backup of JARVIS in the tower's server mainframe located in the basement.
While juggling his party planning duties and evading Hammer's henchmen, Happy secures the Hulk blood sample before Hammer can get his hands on it. In a moment of panic, Happy accidentally injects himself with the blood, setting off a transformation that will change the course of the evening.
Darcy, in the meantime, manages to slip back into the building and access the server mainframe, obtaining a JARVIS backup. However, she is promptly captured and taken to the penthouse, where Hammer is holding Maria Hill captive. This turn of events forces the now fully mutated Happy into action.
The ensuing battle is a spectacle of destruction, with the Iron Legion nearly annihilated within Avengers Tower, Hammer's goons fleeing in fear, and Hammer donning the Hulkbuster armor in a desperate attempt to take down Happy. Darcy, with the help of the backup AI, which appears to be modeled after the famed German filmmaker Werner Herzog, regains control of the building.
Just as Happy seems to have the upper hand against Hammer, the Avengers arrive and mistakenly engage in combat with Happy, initially failing to recognize the creature as their friend. Black Widow is the first to realize the truth, and the fighting comes to an abrupt halt.
Hammer is taken back into custody, and the Avengers celebrate Happy's heroic efforts in saving the day. However, amidst the celebrations, Happy is left with a lingering question: is there a way to reverse the effects of the Hulk blood that now courses through his veins?
"What If... Happy Hogan Saved Christmas?" is a heartwarming and action-packed tale that explores the lengths to which a man will go to protect his friends and ensure a merry holiday. This episode is not just a testament to Happy's character but also a reminder that even the most unexpected heroes can rise to the occasion in the Marvel Multiverse. With a blend of humor, emotion, and high-stakes action, this episode is a festive feast for fans of the Avengers and the holiday spirit.