I just had a minor question about why in the first line of this article, Christmas trees are described as the second-to-last holiday decoration. I found the use of the word “penultimate” in this context confusing.

Does this mean that outdoor holiday lights are the last to come down, before the Christmas tree?

What would be the first holiday decoration to come down? The wreath? Holly?

Or is this about the order that holiday decorations are put up? Is the Christmas tree put up second to last, and the gifts around the tree the last?

Perhaps this order in which holiday decorations are displayed relates to some holiday tradition I am unfamiliar with.