Here's how it would look:
美利 耶诞 (Měilì Yēdàn)
* 美利 (Měilì) means "Merry"
* 耶诞 (Yēdàn) means "Christmas"
You can also write "Merry Christmas" in Chinese using the traditional characters:
聖誕快樂 (Shèngdàn Kuàilè)
* 聖誕 (Shèngdàn) means "Christmas"
* 快樂 (Kuàilè) means "Happy"
Both options are correct and commonly used.