Decided to do some research on Coca Cola and read for myself if the myths about it are true; the myths that it used to have cocaine in it, and the myth that they invented Santa Claus.

So based on what I read from Wikipedia,

1) Yes, it did use to contain cocaine. Coca:coca leaf(cocaine), cola: kola nuts, that gives it caffeine. Coke used to contain 9 milligrams of cocaine in a glass, but the drug was removed in 1903. Nowadays, only the leaf extract is used as a flavour.

2)They didn't invent St Claus per se, but they did use the red and white image we are familiar with in an advertising campaign illustrated by Haddon Sundblom. Apparently the red and white suit was already popular at the time.

and now time for somemore fun facts:

3) Coke was originally intended to be sold as a patent medicine (substance of questionable medical value, snake oil, etc) because carbonated water was believed to be good for your health. It was 1886 after all. Amongst the illnesses that it was supposed to be able to cure was morphine addiction, dyspepsia, neurasthenia,headache, and impotence. I'm not very much in the know, but perhaps cocaine addiction and diabetes were preferable?

4) Here are some fun competitors from other countries:

Coca Colla, from Bolivia. Same main ingredient, same brand colour, but it's an energy drink!

Mecca Cola. Launched in France, based in Dubai. A pro-Muslim alternative if you don't support the US.
And my favourite:from Iran, Zam Zam Cola, the unofficial soft drink of the Haj! (I didn't make that up, it's on Wikipedia)