Gisele Bündchen and Joaquim Valente aren't sipping cocoa and warming by the fire this holiday season ... they're enjoying the sun and surf off the coast of Florida.
The happy couple hopped on jet skis and carved up the clear water near their home in Surfside, FL ... life jackets and sunglasses on as they whipped around the area.
Bündchen showed off those long, supermodel legs of hers ... strengthened by all that jiu jitsu she's practiced with her beau of more than 2 years.