This cache marks the very top of the Los Gatos Creek Trail, just below Lexington Dam. You're looking for a micro with custom camo, very close to the trail. (The area is clear now and the cache location should be fairly obvious, but this hill can become a jungle in the spring and summer if it isn't mowed often.)
The closest parking is on Alma Bridge Road, either in the big lot next to the dam or at the St. Joseph's Hill OSP trailhead. (There are no parking signs in front of the gates.)
If you collect benchmarks, there's one on the pedestrian bridge that you can see from here. But it doesn't appear to be loggable on geocaching.com. (It was placed by the Santa Clara Valley Water District.) Happy hunting!
Congrats to NoBigDipper on the FTF!
Update Dec. 18, 2016: I've archived the Cache Santa bonus cache to make room for something new. All of the traditionals in the series will remain active. If you finish all of the 8 Cache Friday traditionals, message me and I'll drop off one of the finisher's prizes for you in a cache near you. (While supplies last.) 