You have what I call an original floppy disk, Rob. As in your case, most often they were mass produced for promos attached to other printed matter. They were cheap to produce and didn't break in the mail.
I can even remember cereal boxes that actually had a "record" printed on the back of the box! One had to cut it from the box and then play it on the record player. It was not much more than one of those floppies attached to cardboard.
Don't remember Benji and Waldo, but the Lutheran's also produced Davy and Goliath.
I'll look around to see if anyone has ripped any "Christmas Is" records. If not, we'll see what we can do about getting yours ripped, Rob.