Fiona starts feeling the pressure because Simpson wants her to scale down the Frostival and she doesn’t have the $11,000 she needs to pay toward the carnival, all while Marisol is gloating at Fiona’s impending failure. Fiona takes out her frustration on Imogen, telling Imogen that she’s moving away and the carnival isn’t going to happen. Imogen is upset that Fiona’s giving up so easily, so Fiona comes up with an idea to get the cash by selling all of her stuff. During the scene where she sells herself one of her customers is noted as Manny Santos. Fiona raises the cash and ends up riding the ferris wheel with Imogen, and Fiona finally confesses her feelings and ends up kissing her. Imogen kisses Fiona back and tells her she feels the same way, but isn’t completely sure about her sexuality yet. Later they hold hands and Holly J. calls Fiona a "smooth talking seductress." The episode ends with Holly J. and Fiona sitting in front of Degrassi looking at the cute and quirky Imogen, as she holds three bouquets of cotton candy in her hand. Fiona smiles, and tells Holly J. that she will do whatever it takes to stay at Degrassi.
After Clare proofreads Eli’s article, he asks her out to lunch. She abruptly declines because she doesn’t think it’s a good idea. Later Clare finds Eli in the memorial garden and apologizes for overreacting because she didn‘t want them hanging out to trigger his issues again. Eli asks Clare if they could ever pick up where they left off before things went awry in their relationship and Clare accidentally spills soup on him. Clare and the gang successfully complete their newspaper, and afterward she and Eli hang out at the carnival. He asks Clare if she was really worried about them hanging out setting him off and she says “It wasn’t you I was worried about.” As Eli walks away to meet his dad he turns around because he needs to know what Clare meant by that, and that’s when she kisses him. Before Eli can say anything Clare tells him to hold onto whatever he’s thinking and they’ll talk about it when he gets back from winter break.
Maya tries to sneak out her house at night to go to an audition at a bar for an indie strings band, but her dad catches her. She tells him how she feels like music is no longer a challenge, and her dad tells her she has to find a way to make it challenging for herself. Maya rejoins the grade nine band and has found a new way to challenge herself by taking up the trumpet.
- This episode is named after the song "In the Cold, Cold Night" by The White Stripes.
- A winter carnival, called "The Degrassi Frostival" occurred in this episode.
- Charlotte Arnold guest starred in this episode as Holly J. Sinclair, a former main character. This also marks her last appearance until Degrassi: Next Class.
- This episode marks the beginning of Fiona and Imogen's relationship.
- Fiona and Imogen kiss in this episode.
- Eli and Clare kiss in this episode for first time since they broke up in Drop the World (2).
- Mr. Simpson mentions the title of Another Brick In The Wall.
Regular Cast (Ordered Alphabetically)
- Shanice Banton as Marisol Lewis
- Stefan Brogren as Archie Simpson
- Munro Chambers as Eli Goldsworthy
- Annie Clark as Fiona Coyne
- Sam Earle as K.C. Guthrie
- Cory Lee as Winnie Oh
- Lyle O'Donohoe as Tristan Milligan
- Aislinn Paul as Clare Edwards
- Cristine Prosperi as Imogen Moreno
- AJ Saudin as Connor DeLaurier
- Olivia Scriven as Maya Matlin
- Melinda Shankar as Alli Bhandari
- Alex Steele as Tori Santamaria
- Jessica Tyler as Jenna Middleton
- Brendan Beiser as Mr. Matlin
- Andrea Drepaul as Shopper
- Holly J.: "Next semester's gonna be a hoot."
- Holly J.: "Here I am, back at Degrassi."
Fiona: "Do you miss it?"
Holly J.: "Ahhh... no. Yale already feels like home."
- Holly J.: "You'll be surrounded by the people you love."
Fiona: "After I cancel the carnival I can't pay for, I'm going need to be."
- Imogen: "Hey, I know you, Holly J."
Holly J.: "Just back for the holidays."
Imogen: "From Yale, I know. Your handprints are right there, it's like I'm in the presence of royalty"
Holly J.: "You must be Imogen. Fiona's told me all about you."
- "I Hope This Gets To You" by The Daylights - Heard when Eli and Clare have lunch. together.
- "Call Me Maybe" by Carly Rae Jepsen - Heard when customers visit Fiona's apartment to purchase her clothes.
- "Reunion" by Papermaps
- "Name" by Lonely Dear - Heard when Fiona and Imogen kiss.