A crowd in which two men are wearing Santa Claus Hats are celebrating Christmas outside of a Bank of America and a Christmas tree.
Many people are singing carols.
You don't need to be singing carols to celebrate Christmas.
only two men are celebrating christmas,so it can't be inferred as many people.also as they are celebrating christmas,it not necessary that they sing carols
Two men outside the bank are not many people singing carols.