Larry Guthrie is a simple, hardworking man who has always been in love with his high school sweetheart, Brooke. However, Brooke broke up with Larry and left for Los Angeles to pursue her dreams. In an effort to win her back, Larry begins volunteering at the after-school program where Brooke works.
While volunteering, Larry accidentally tells the children that the Tooth Fairy is not real, devastating them and ruining his chances with Brooke. As punishment, the real Tooth Fairy appears before Larry and transforms him into a tutu-clad fairy with the task of collecting teeth for the next two weeks.
Through his adventures as a Tooth Fairy, Larry learns important lessons about friendship, kindness, and never giving up on love. He even helps Brooke's nephew, Brady, overcome his fear of the Tooth Fairy. As Larry completes his mission and returns to his normal life, he realizes that the true magic of the Tooth Fairy is the joy it brings to children, and he is grateful for the opportunity to have experienced it firsthand.