When Penny Proud’s rant about Wizmas and the commercialization of Christmas causes Santa to quit on Christmas eve, Penny finds herself guilted into putting on the red suit and replacing him. And in the process of delivering Yuletide cheer with the help of Santa’s irreverent elves, she discovers that indeed the Christmas spirit is still alive.

Upon returning to Los Angeles to attend his father's funeral, Damon soon learns that in order to claim his share of the family inheritance he must work alongside his brother, Mookie — a former drug-dealer who had previously cost Damon a college scholarship — in keeping the family's long-running gas station in business for at least one year. As the siblings repeatedly butt heads over matters both great and small, they soon come to realize that it takes more than money to hold a family together.