Howard Langston, a mattress salesman who lives in the Twin Cities of Minnesota, has been neglecting his family, and to make up for it he promises his son Jamie anything he wants for Christmas. Jamie wants the new TurboMan doll, which happens to be what every other child wants as well. Howard's wife Liz tells him to buy the doll early to be safe, but he forgets and only remembers on Christmas Eve. He goes to every toy store in the region, including the Mall of America, but they're all sold out. He meets a slightly deranged postal worker, Myron, who is also looking for one of the dolls, and having no success. Howard tries increasingly crazy things to try to get one of the dolls, like making a deal with a con-artist Santa Claus, who happens to be part of an illegal cartel. He even tries to steal a TurboMan doll from his neighbour's house, Ted, who happens to be trying to make a move on Howard's wife. He and Myron turn on each other in their desperation. Eventually the police, including an officer that Howard has got on the wrong side of, corner both Howard and Myron. Myron shakes them off by producing a 'fake' letter bomb from his post-bag, which turns out to be real.
Howard eventually gets mistaken for someone else, and is put into a state-of-the-art TurboMan costume before he can explain himself. He is the centrepiece of a Christmas parade, which Liz and Jamie are also attending. He is supposed to present a member of the crowd with a special edition TurboMan doll, and he uses the opportunity to give the doll to Jamie. Unfortunately, Myron still hasn't given up, and stealing the costume of one of the other actors he kidnaps Jamie, prompting Howard to try and rescue him. Howard succeeds, and just as Myron is about to be taken to hospital, Jamie gives him the doll, saying he doesn't need it anymore, as his dad's the real thing.
