Jamie Salter (Daniel Rigby), a failed comedian who has found unwanted success by performing the voice and movements (via performance capture) of a blue cartoon bear named Waldo, reluctantly agrees to allow Waldo to stand in an upcoming by-election. He meets the Labour party candidate who is a new to politics and while expecting to lose, the seat is a Tory electorate, is using it as a stepping stone for publicity. The pair sleep together but afterwards she is advised by her campaign manager not to associate with him which upsets Jamie. Waldo becomes unexpectedly popular and during a televised debate Jamie accuses the Tory candidate of being a fraud, not even knowing that his own friend, the former MP who was arrested for paedophilia, was a "kiddy-fiddler" but saying the Labour candidate was even worse and revealing publicly she expected to lose and why. Waldo places second in the by-election, the Tory winning, and the Labour candidate, who genuinely cared for Jamie, says she was going to call him as soon as the election was over. Jaded over the experience and arguing with his boss who owns the character rights, Jamie quits. He ends up living on the streets in a foreign country, assaulted by police officers when he attacks an interactive advertising screen that shows how Waldo has become a huge global phenomenon that would have made him rich.