Like for the hundreth time, based on Good Ol' Saint Nick.
When St. Nick was just a boy, his wealthy parents died and inhereted all their money. So when he was older, he spent it on the poor. And he blah blah blah presents blah! Everyone knows the rest, I'm not even sure if that story, but it sounds kind of accurate (O.o;).
To sum it up, yes and no. Yes because at a time, he was real and living, just not fat, jolly, wore a red suit, and doesn't have flying reindeer.
No because, look up Santa Claus, you get a fat red guy who basiclly is a jolly fat man breaking into your house stealing nothing but your milk and cookies some of you leave at night.
And to some of you, I hate to tell you, but those presents that appear Christmas morning, was your parents. =O