In a quiet town in Massachusetts, a boy named John Bennett makes a wish on a Christmas night: that his beloved teddy bear, Ted, could come to life. Surprisingly, his wish comes true, and Ted becomes a charismatic, talking being, somewhat rough around the edges, leading John to experience an unforgettable childhood. However, as they grow older, adulthood brings unexpected challenges. John, now a 35-year-old man, struggles to find a balance between his relationship with his girlfriend Lori and his friendship with Ted, who, despite being a toy, behaves more like a wild party animal than a teddy bear.
As John tries to be a responsible man and take the next step in his relationship, Ted does not make it easy for him. His wild lifestyle, filled with parties, mischief, and sharp humor, threatens not only his own happiness but also John's, who finds himself caught between two very different worlds. When Lori asks John to choose between her and his lifelong friend, tensions rise, and Ted also starts facing consequences for his hedonistic lifestyle.
Amid laughter and moments of reflection on friendship and maturity, the story highlights how sometimes the ties of childhood can complicate personal growth. Will John manage to find his way while facing the dilemma of leaving his friend behind or continuing to be the same boy who made a wish?