As we head into Easter weekend, David Letterman is doing his best Santa Claus impersonation.

Letterman, 68, was photographed jogging in the Caribbean on the island of St. Bart’s, looking nearly unrecognizable. If it weren’t for the Ball State T-shirt, we might still be skeptical. But it’s really just proof that the “Late Show” host who signed off the air nearly a year ago is doing exactly what he wants, starting with not worrying about hair — or his image. He obviously didn’t get the memo about celebs not aging in public.

Actor Josh Gad tweeted that he was “jealous” of Dave’s carefree retirement behavior. Mia Farrow posted a note about “courage.” So in true “Late Show” fashion, we came up with:

The Top 10 Theories Behind Dave’s Crazy Look. Drum roll, please…

10.) He’s out looking for two iguanas to put in the ark.

9.) After years of auditioning, he’s finally joining ZZ Top.

8.) Wants to edge out Patrick Stewart for a role in the upcoming film, “Star Trek: Wrath of Beard.”

7.) Accidentally killed Santa; prepping for takeover.

6.) Refuses to shave beard until Oprah loses hers.

5.) Ball State Volleyball needed a new striker.

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4.) This is just what 33 years on late-night TV does to you. Colbert? Kimmel?

3.) Recruited to be a new member of the “Duck Dynasty” family.

2.) Have you seen the price of razors these days?

And the No. 1 reason behind Dave’s new look is …

1.) He’s doing a whole Fidel Castro thing so President Obama will come have dinner with him.