Derek Thompson (Dwayne Johnson) is a minor league hockey player nicknamed the "Tooth Fairy" for hitting opposing players so hard that he knocks out their teeth. One night, Derek steals a dollar from his girlfriend Carly's (Ashley Judd) six-year-old daughter Tess (Destiny Whitlock) that had been left for her lost tooth and tells her that the tooth fairy doesn't exist. Then he receives a magical summons under his pillow. He grows wings and is transported to the realm of tooth fairies. He meets his case worker, Tracy (Stephen Merchant) and the head fairy, Lily (Julie Andrews). He has an adversarial relationship with them. Lily tells Derek that he is a "dream crusher," due to his unsympathetic dealings with children like Tess. He is sentenced to serve two weeks as a tooth fairy. Later, he meets Jerry (Billy Crystal), who gives him his tooth fairy supplies, which include "Shrinking Paste," "Invisible Spray," and "Amnesia Dust."