The television movie is set in the city of Dimmsdale and centers on the series' main protagonist Timmy Turner with his fairy godparents Cosmo and Wanda and his fairy godbrother Poof. In the movie, Timmy is now 23 years old but is still in fifth grade with his fairy-obsessed fifth grade teacher Mr. Crocker. Despite being grown up, Timmy finds a loophole in the fairy rulebook Da Rules: if he continues to act like a kid, he will still get to keep his fairies. However, the dilemma rises when Tootie, who was once a dorky girl when she was 10 years old, returns to Dimmsdale as an attractive woman. Timmy falls in love with her, a sign that he is growing up to an adult, which means he is closer to losing his fairies. Meanwhile, an oil business tycoon named Hugh J. Magnate, Jr., who teams up with Mr. Crocker, plans to use Timmy's fairies' magic in order to promote his oil business.

After Timmy Turner causes Santa amnesia he must become the new Santa in order to save Christmas.

Get ready for the oddest summer yet! Timmy Turner and his fairies are going on a summer vacation to Hawaii. But, unfortunately for Timmy, something tells us this won’t be a very relaxing holiday. With all the magic in Fairy World at stake and villains like Vicky , Foop and Crocker on his tail, there’s no way he’ll be able to enjoy himself…