Drawn to Santa's workshop after hours by an irresistable force, Monty Wolfgard, the smallest elf in the North Pole, discovers Santa's Magic Bag. From the living guard door, the little elf learns that it's time to begin his 'finding' to search for his gifts and charms. After being outfitted for the trip with enchanted gear, Monty enters the Magic Bag, where he discovers a whole new world. It's being ravaged by an evil, firebreathing dragon. Monty forms a rag-tag army of elves, fairies, gnomes and unicorns to fight the dragon, and the quest begins.