I’d do the opposite and reduce all the gimmicky adornment like embossing effects. There’s no place for that in the design of a good logo. Beyond that, we have no idea what it is for, apart from the fact it has something to do with holidays.
With regards to, ‘Does it work?’; without a brief and an understanding of the problem it is trying to solve, that’s an impossible question to answer.
A fairly shallow aesthetic critique is all that can be offered. On that score, I think, to be honest, the typography is pretty ropey, at best. The main font / lettering (I am guessing a free font) makes my toes curl. The secondary font is lazily kerned and doesn’t really relate to the main word mark. I’m not quite sure what it is but it is a bit of a pastiche, derivative humanist font with pseudo ink traps as decoration and their opposite as half-cocked random serifs. It has poorly-considered (if any) optical compensation. Another free font? With free fonts, you almost always get what you pay for – with some notable exceptions.
I’m not at all sure what the afterthought heart is doing on the Y, but it adds nothing, apart from making it all feel a bit more gimmicky – compounded by the ‘clip art’ sun and cloud symbols.
Apologies if this sounds scathing, but, as it stands, it all feels like a logo put together in Word by a school teacher for a kids’ project, rather than a considered visual mnemonic intended to communicate to a targeted demographic.
If you could provide some comprehensive background information, we may be able to offer some more advice to help you improve it.