The heir to an oil fortune trades places with a water-ski instructor at a Florida hotel to see if girls will like him for himself, rather than his father's money.

Winterbolt is trying to make the North Pole his evil wonderland, and it is up to Frosty the Snowman, Rudolph the Red-Nosed Reindeer and others to stop him.

Rudolph must find Happy, the baby new year, before the midnight of New Year's Eve.