It was the last Nitro before Starrcade 97. Sting was playing weird ass mind games with Hogan. And since this was close to Christmas, Sting sent Hogan a gift wrapped box. Hogan then opened it, then had the reaction in the GIF above. Then Sting came down from the rafters, entered the ring, and all hell broke loose as the show went off the air.
THAT VANILLA MIDGET AL SNOW STOLE THE HEAD GIMMICK FROM HOLLYWOOD, BROTHER!