Most evidence leans on them being brought back after they learned the true meaning of the season. With Max as the lone holdout in needing to take back his wish. This ending is backed up by Omi's knowledge of where Krampus takes his victims. She wouldn't know this if she hadn't confronted Krampus like Max did. Ergo, she lied about how it ended that night. To ensure Max committed a truly selfless act, and not just do it because it was what Omi did so many years ago. Then there is the tie-in Comic which supports the "happy" ending. I put quotation marks around happy because we see that receiving a bell means he is always watching you.
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