Hally Toe-Siss is a selfish and wasteful tooth fairy who does all the things that fairies aren't supposed to do, such as judo, karate and kung fu. Having used up all his fairy dust on some rather silly spells he's now unable to perform any magic for the fairy queen's birthday party. Hally needs to collect another tooth to make more fairy dust but none of the children on his list have lost a tooth yet. Whatever shall he do? Fortunately, with help from Grandma, Hally improvises and discovers the joy of giving.