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Rabbids Lab is available for 500 Wii Points in the Wii Shop Channel. It allows you to play around with a Rabbid in a Wii Remote. You can flick the remote to flick the Rabbid, you can press buttons while the Rabbid is on them to toss him, and you can use tools to edit him up.
The game doesn't really add anything that the version in Rabbids Go Home had. In fact, all it adds are holiday style hats and stamps. As for the items you had to unlock in Rabbids Go Home, they are absent here. Extremely funny hats are gone, stickers are gone, and besides the vice, all tools are gone as well. You can't have a one-eyed Rabbid anymore. Also, you cannot make a Rabbid figurine. That means you have to stick with taking pictures in the Wii Remote.
Most of the customization would go to making your character like Santa Claus, since that there's a Santa hat and several tattoos that can contribute to Santa's suit. The other (yes, there are 2) hat is a turkey. There are also pumpkin tattoos, skull tattoos, and many more. Not many of which were in the game which this originates.