The film revisits classic characters such as Hermey the Elf and Rudolph, who is now famous at the North Pole. Not satisfied with being a "freak show" performing tricks with his nose, Rudolph tags along when Hermey travels to the Island of Misfit Toys to give King Moonracer a root canal. Meanwhile The Evil Toy Taker is stealing all of the toys from there, claiming that he's saving them from the inevitable fact that children eventually outgrow their toys and throw them out. It's up to Rudolph, Clarice, Hermey, Yukon Cornelius, and the Abominable Snowmonster to stop him.