die Bescherung
gift-giving
The giving out and unwrapping of presents, especially at Christmas.
Die Kinder konnten die Bescherung am Heiligabend kaum erwarten.
The children could hardly wait for the gift-giving on Christmas Eve.

gift-giving / mess
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gift-giving
The giving out and unwrapping of presents, especially at Christmas.
Die Kinder konnten die Bescherung am Heiligabend kaum erwarten.
The children could hardly wait for the gift-giving on Christmas Eve.

'Die Bescherung' (gift-giving) comes from the verb 'bescheren' (to bestow/give as a gift), which means to give something as a present. The noun describes the act of giving gifts, but it has also developed a second, ironic meaning for unwanted outcomes.
Was hat dir das Christkind denn dieses Jahr beschert?
What did the Christ Child bring you this year?
The ironic meaning is almost always used in the fixed expression 'Da haben wir die Bescherung!' (now we've got a fine mess!). You say this when a problem or negative result becomes obvious.
Der Rotwein ist auf dem weißen Teppich gelandet. Na prima, da haben wir die Bescherung!
The red wine ended up on the white carpet. Great, now we've got a fine mess!
When 'Bescherung' (mess) means an unpleasant surprise, its use is always colloquial and ironic. Sometimes the irony is intensified by adjectives like 'schön' (nice/fine) or 'toll' (great).
Jetzt ist auch noch der Strom ausgefallen – eine schöne Bescherung!
Now the power has gone out too—a fine mess!
In German-speaking countries, 'die Bescherung' (the gift-giving) is the fixed term for the moment when presents are given out on Christmas Eve. It is a central part of the Christmas celebration for many families.
Nach dem Abendessen beginnt endlich die Bescherung.
After dinner, the gift-giving finally begins.
surprise
'Überraschung' and 'Bescherung' can both have to do with something unexpected or with gifts. 'Überraschung' is general: it can be an unexpected event, a piece of news, a gift, or also the feeling of astonishment. 'Bescherung' usually means the giving out and unwrapping of presents, especially at Christmas. Colloquially, however, 'Bescherung' can also ironically mean an unpleasant surprise. That is why learners may confuse the words. For neutral or positive unexpected things, 'Überraschung' almost always fits. 'Bescherung' fits with Christmas presents, or ironically when talking about a problem.

Nach dem Wasserrohrbruch sahen sie die Bescherung in der Küche.
After the burst water pipe, they saw the mess in the kitchen.
Heute wartet im Lehrerzimmer eine kleine Überraschung auf den Lehrer.
Today a little surprise is waiting for the teacher in the staff room.