After the death of his mother, Toby Morgan (Matthew Harbour) is sent to spend Christmas with his strict grandmother (Kevin Jubinville). The boy seems destined for an unpleasant holiday -- until he discovers an attic full of magical toys. The happy crew includes a prissy swan (Ellen Burstyn), an overeager horse (Tom Skerritt) and a lovely velveteen rabbit. The rabbit was left to him by his mother and, with its help, Toby might be granted his biggest Christmas wish of all.