In fact, it’s actually pretty funny to watch, particularly with the added bits of dialogue and recognizing the scenes that the noises were taken from.
Apparently, there are certain notes a Wookiee can only sing when he’s captured as a ruse to ensnare Jabba the Hutt.
While the actual content may not match up to whatever the Shyriiwook translation of Silent Night is, it definitely matches the sound of it.
You can thank the fine folks at How It Should Have Ended for providing this holiday novelty, as it looks like they’ve taken footage from all of the classic Star Wars films and cobbled them together into a cohesive first verse of the classic Christmas carol.