lol
More info than you're looking for but...
It's actually a song with an empathetic message about socioeconomic diversion come Christmas time. They're calling Santa a "fat bitch" because he doesn't deliver toys to poor kids in the ghetto. It's a metaphor.
Most people aren't aware, but Insane Clown Posse are very charity-driven. They regularly do charity shows locally here in Michigan, and hold canned food and toy drives around the holidays.
They've been doing it since the 90s (timestamped below)
Even on Covid this year they donated plenty of material to create masks locally for those in need:
I stick up for ICP. They're good people.