The main character is named Edgar, and he is struggling to move on from his divorce and the death of his brother. He decides to sell the Blade doll at the convention in Oregon as a way to make some money and clear out his brother's possessions.
The convention is held in the same hotel where the Toulon Murders took place 30 years prior. The killer, Andre Toulon, was known for experimenting with bringing his puppets to life and using them to exact revenge on those who wronged him.
During the auction, a strange energy emanates from the Blade doll, and suddenly all of the other puppets in the convention come to life as well. Chaos ensues as the puppets begin a killing spree, targeting anyone in their path.
Edgar teams up with a group of survivors, including a police officer and a journalist, to try and stop the puppets and figure out what is causing them to come to life. They discover that a secret Nazi ritual may be responsible for the puppets' animation, and must race against time to stop the evil forces at work.
The film is a darkly comedic take on the original Puppet Master franchise, with plenty of gore and over-the-top kills. It stars Thomas Lennon as Edgar, along with a host of recognizable character actors in supporting roles.