Max Fernsby seems like your typical 10-year-old kid, but when a red bag­ literally falls on his head from the sky, Max finds he suddenly has the power to produce any toy in the world! But what Max doesn't realize is that the red bag only wound up in his hands because two of Santa's most troublesome elves decided to take Santa's sleigh for a joy ride. The bag fell out along the way, and if they don't get it back to the North Pole soon, Christmas itself may be in jeopardy. Not to mention a greedy businessman has eyes on the bag and wants to steal it for himself!