Howard Langston is often busy at his job, and has a hard time finding time for his wife, Liz and his young son, Jamie - especially when compared to next door superdad divorcé, Ted Maltin. After breaking his word again by missing Jamie's karate grading, Howard resolves to redeem himself and his marriage by fulfilling Jamie's ultimate Christmas wish, a Turbo-Man action figure.
Unbeknown to Howard, Turbo-Man toys are the must-have gifts of the season, and stocks of Turbo-Man toys are quickly drying up all over the country. Desperate not to disappoint his family again, Howard embarks on an epic city-wide quest to find the toy everyone's looking for. Along the way, Howard encounters Myron Larabee, a postal worker dad with a rival ambition.
The search climaxes with both dads masquerading as live action stuntmen in a department store parade. Posed as the "real" Turbo-Man, Howard uses the opportunity to present a coveted limited-edition Turbo-Man doll to his son in the crowd. But before he can recognize his dad, Jaime is chased around the parade by Myron, dressed as Turbo-Man's archnemesis, Dementor. Jamie is ultimately saved by Turbo-Man, who reveals himself as his father.