It's been years since Bonnie, the toy with the soul and the voice (Richard Dreyfuss) of a psychopathic killer, was apparently destroyed in a fire at a toy factory. Now Bonnie's manufacturer is remaking the same line of toys with the old, still haunted materials. This resurrects Bonnie, who goes after Aaron (Jason Bateman), his former owner, who now attends military school. Bonnie slashes his way through a string of grotesque murders as Aaron tries to stop the homicidal doll and the spirit within it.