There are three major types of the 1925 Christmas Seal, and varieties within these types.
Type One, printed by Eureka - The red line around "1925" stops at the green line at the top of the bottom panel and does not join the red background below. The rays around the flames are like the Type II in early impressions, but more frequently show signs of wear, are only slightly tapered, and are blunt at the tips. Rays mostly alternate long and short.
Type Two, printed by Edwards & Deutsch - The red line around "1925" crosses the green line and joins the red background of the bottom panel. Rays are tapered and sharp pointed, mixed long and short as Type I.
Type Three, printed by Gugler - Similar to Type I but rays around flames are shorter and of a more even length, and usually have sharper points. Letters "ea" of "Health" are smaller and more nearly closed. They come in two types of letters, one with heavy "rr" and the other with thin "rr" in "Merry".