Target and Neiman Marcus are bringing together twenty-four (yes...twenty-four) American designers for a limited-edition holiday collection to be sold by both retailers in stores and online. The line will feature 50 gift items with prices ranging from $8 to $500, but most pieces will hover at or below $60.

Happy holidays, indeed.

The designers—all members of the Council of Fashion Designers of America (CFDA)—include established names like Oscar de la Renta and Diane von Furstenberg as well as relative newcomers like Band of Outsiders and Derek Lam.

As far as the actual items go, everything is being kept extremely secret. We do know that the pieces will range from electronics to housewares to accessories, and everything in between. Materials include fine leather, hand-blown glass, and 18 karat gold—but how these will show up in the collection is anyone's guess. We'd love to see some Judith Leiber headphones or a Marchesa dog bowl.

Whatever they come up with, the collection, premiering December 1, is sure to be another shopping melee. And with amped up holiday shoppers picking over an incredible design collaboration, we expect this one to be the craziest of them all.

So what's your strategy? Target or Neiman Marcus? Online or in-store? As for us, we're thinking about getting our camping gear together for a long winter's night.