Craig and Day-Day have finally gotten jobs as mall security guards and moved into their own crib. When a fake Santa robs their rundown apartment on Christmas Eve, they embark on a comical adventure in an effort to track down the bandit and retrieve their stolen loot. Meanwhile, Day-Day's rent-a-cop tactics cause them to continually miss their chance to catch the Santa and instead has them squaring off against innocent caroling ladies, shady neighborhood kids and the police!