In 1986, Harry Dunne (Derek Richardson), a home schooled boy, finally gets his chance to go to regular school. At the same time, Lloyd Christmas (Eric Christian Olsen), who has been adopted and exchanged several times until he was accepted by Ray (Luis Guzman), the school janitor. Harry bumps into Lloyd on the way, in search for a treasure his mother (Mimi Rogers) asked him to find, and as if it were destiny, the two instantly became the best of friends. Lloyd introduces Harry to his 'friend', Turk (Elden Henson), the school bully whose main function in life appears to be making Lloyd's life hell. After putting Lloyd in a dustbin, he hoists the two friends up a flagpole. Meanwhile, the corrupt Principal Collins (Eugene Levy) searching for a way to get a large amount of money to get a condo