'The Wreath: Interpretations' (through Jan. 6) A wreath shaped like a sea serpent may not be welcoming to many, but curious visitors might find it just the ticket at the Arsenal Gallery in Central Park, above, where a display of 30 offbeat holiday wreaths is on view. ''Giant Sea Serpent Wreath (Wreath of Revitalizations of Life)'' by Takeshi Yamada is an amalgam of, among other things, a taxidermic jaw, steel, paper and sand from Coney Island; other wreaths are made of sticks and stones, bottle corks and drink umbrellas. They can be viewed Mondays through Fridays, including Christmas Eve, from 9 a.m. to 5 p.m. And for those who think one of the wreaths would look perfect on a door, many are on sale (prices, $100 to $12,000), with a portion of the proceeds to benefit a public arts program administered by the Department of Parks and Recreation; Fifth Avenue and 64th Street, third floor; free. (Anne Mancuso) [ABSTRACT FROM PUBLISHER]