It's Christmas Eve in a typical suburban household with two worn-out parents and three wildly excited children. In a desperate attempt to get the kids to sleep, their father tells them a homespun bedtime story; the story of Santa's little ferrets becomes an instant Christmas classic. Although very few people know it, it seems that Santa brings an elite security squad with him every Christmas Eve comprised of three highly trained ferrets. Their job? To make sure that no one's awake, trying to catch a glimpse of Santa. But on this particular night the unexpected happens, and the line between fantasy and reality becomes blurred. Suddenly, the ferrets' entire security operation is in jeopardy!