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Best Answer: Yes Santas suit was originally green back when he was known as St Nicholas, he then had a totally different meaning to the Santa Clause we know today. The truth behind the Santa we see in our times came about in the early 1950's and someone we all know very well helped to create this image.
They were known popularly as greenbacks, a name inherited from the earlier greenbacks, the Demand Notes, that they replaced during 1862. Often termed Legal Tender Notes, they were named United States Notes by the First Legal Tender Act, which authorized them as a form of fiat currency.