AMSCAN HOLDINGS, INC.

                                                Filed pursuant to Rule 424(b)(3)
                                                      Registration No. 333-45457


Supplement No. 4 to Prospectus dated May 24, 2000, as supplemented by
Supplement No. 1 dated May 24, 2000,
Supplement No. 2 dated August 11, 2000, and
Supplement No. 3 dated November 14, 2000

The date of this Supplement No. 4 is January 29, 2001

     The first three  paragraphs  under "Plan of Distribution" in the Prospectus
dated May 24, 2000 are hereby amended to read in their entirety as follows:

               This  Prospectus  is to be used by Goldman  Sachs,  Spear Leeds &
          Kellogg, L.P. ("Spear Leeds") and other broker-dealer  subsidiaries of
          Spear Leeds (the "Goldman  Entities")  in  connection  with offers and
          sales of the Notes in market-making transactions effected from time to
          time.  The Goldman  Entities  may act as a principal  or agent in such
          transactions,  including as agent for the counterparty  when acting as
          principal  or as  agent  for  both  counterparties,  and  may  receive
          compensation in the form of discounts and commissions,  including from
          both counterparties when it acts as agent for both. Such sales will be
          made at  prevailing  market  prices  at the  time of sale,  at  prices
          related thereto or at negotiated prices.

               Affiliates of Goldman Sachs currently own approximately  72.9% of
          Amscan  Holdings'  Common Stock. See "Ownership of Capital Stock." The
          Goldman Entities have informed Amscan Holdings that they do not intend
          to confirm sales of the Notes to any accounts over which they exercise
          discretionary authority without the prior specific written approval of
          such transactions by the customer.

               Amscan  Holdings has been advised by the Goldman  Entities  that,
          subject to  applicable  laws and  regulations,  the  Goldman  Entities
          currently intend to make a market in the Notes.  However,  the Goldman
          Entities are not obligated to do so and any such  market-making may be
          interrupted or discontinued  at any time without notice.  In addition,
          such  market-making  activity will be subject to the limits imposed by
          the  Securities  Act and the Exchange  Act.  There can be no assurance
          that an active trading market will develop or be sustained.  See "Risk
          Factors - Trading Market for the Notes."