To be honest, it's not straightforward to determine. It might have elements of truth but could also be a blend of imagination and real-life inspiration.
It's based on true events to some extent. The creators used real-life situations and added fictional elements to make the story more engaging and dramatic.
The bully in 'The Bully on a Christmas Story' is Scut Farkus. He is a key figure in the story's narrative of childhood experiences. Scut Farkus represents the kind of bully that many kids might encounter during their school days. He's got that look about him that just screams trouble. His interactions with the main characters, like Ralphie, are what drive a lot of the conflict in the story. He's always causing some sort of problem or scaring the other kids, which is a central part of the story's plot that focuses on the challenges and adventures of childhood during Christmas time.
I'm not sure specifically which 'Christmas Story' you are referring to. There could be various interpretations. Maybe it's a character who teases the protagonist or causes trouble during the Christmas events in that particular story.
In the 'Christmas story' in question, the bully might be excluding other children from Christmas activities. For instance, if there is a Christmas play or a group caroling, the bully could prevent some kids from participating. They could spread rumors about the other children, saying things like they don't deserve nice Christmas presents. This would create a sad and tense atmosphere during the otherwise joyous Christmas time.