From Muppet Wiki

Fred is a loyal, brave elf in Santa's Workshop in the 1970 special The Great Santa Claus Switch.

Fred foiled the evil Cosmo Scam and his evil plan to burglarize every house on Christmas Eve. He was the newest of Santa's Elves, which included Zippity, Skippity, Hoppity, Bing, and Bong. Fred can be identified by his frizzy orange hair.

The puppet was later reused as Wally in The Muppets Valentine Show, and Leo in the Muppet Meeting Films.