Two Hobbits struggle to destroy the Ring in Mount Doom while their friends desperately fight evil Lord Sauron’s forces in a final battle.

When secretive new neighbors move in next door, suburbanite Ray Peterson and his friends let their paranoia get the best of them as they start to suspect the newcomers of evildoings and commence an investigation. But it’s hardly how Ray, who much prefers drinking beer, reading his newspaper and watching a ball game on the tube expected to spend his vacation.

Bilbo Baggins the Hobbit was just minding his own business, when his occasional visitor Gandalf the Wizard drops in one night. One by one, a whole group of dwarves drop in, and before he knows it, Bilbo has joined their quest to reclaim their kingdom, taken from them by the evil dragon Smaug. The only problem is that Gandalf has told the dwarves that Bilbo is an expert burglar, but he isn’t…

From a riddle-speaking butterfly, a unicorn learns that she is supposedly the last of her kind, all the others having been herded away by the Red Bull. The unicorn sets out to discover the truth behind the butterfly’s words. She is eventually joined on her quest by Schmendrick, a second-rate magician, and Molly Grue, a now middle-aged woman who dreamed all her life of seeing a unicorn. Their journey leads them far from home, all the way to the castle of King Haggard.