Today, hearing this - radically different - version came as a big surprise:
This rendition was produced for the movie Miracle On 34th Street (1994). Ray almost always produced commercials and his contributions to movie sound tracks at his own RPM studios in Los Angeles. In this case, however, Jeremy Lubbock and Elliot Lurie were credited as producers, so the recording may have happened elsewhere.
The soundtrack of the film was released on CD by Fox Records (on 15 November 1994; 7822-11022-2).
This is the original album version:
For other Genius Christmas records and shows read this earlier post.