Well, let me start off by saying that my personal choice of the two options you mentioned would be the week after Thanksgiving.
But... let me ask you -- which holiday do you prefer? Are you more of a Halloween person, or more of a Holiday Season/Christmas time person? That will largely influence my answer to you.
I love both Halloween Time and the Holidays at
Disneyland Resort, but I prefer the Holidays because that season is more all-encompassing and immersive. Both parks and all 3 hotels (as well as Downtown Disney) get in on the Holiday action in some way, either with entertainment or décor or both.
Halloween Time, on the other hand, is fun -- and I recommend experiencing it at least once -- but it is very underdeveloped. The Halloween fun is basically centered in Disneyland park and not in California Adventure. And even then, the Halloween décor is mainly on Main Street and in Frontierland. Haunted Mansion Holiday (the Nightmare Before Christmas overlay of the Haunted Mansion) is available for both Halloween Time and the Holidays, so you can see it either time. Space Mountain Ghost Galaxy is exclusive to Halloween Time.
I think that the Holidays are worth seeing, because It's a Small World Holiday is fantastic and the themed decorations in each land are great. Also, shows like Viva Navidad in California Adventure are lively and joyous.
The time frame after Thanksgiving week is good because many people have finished their Thanksgiving breaks and gone back to school and work, and it is still too early for Christmas breaks. The parks will still be busy, as the holidays are popular, but the crowds shouldn't be as heavy as they would be a couple of weeks later. You might run into crowds in October at certain points too. Personally, if I am going to encounter crowds and I can only choose one season to enjoy, I am going to go for the one that offers more bang for my buck -- and that is the Holiday season (mid-Nov-Dec-early Jan.)
But if you are more of a Halloween fan, I don't think you'd be disappointed with what Disneyland park offers for that holiday. There are pumpkins above the turnstiles and along Main Street, as well as around the Hub and at the Halloween Carnival (at Big Thunder Ranch). And there is also Mickey's Halloween Party on select nights through October. MHP includes Halloween Screams fireworks -- which are great -- and a mini-parade/Cavalcade.