Yes, it's true, those notorious No-Goodniks from Pottsylvania, Boris Badenov (Jason Alexander) and Natasha Fatale (Rene Russo) are back, and as usual are up to no good. This time they have managed to break the secret code and make the leap from their cartoon existence into the real world. Led by the criminal mastermind Fearless Leader (Robert De Niro), Boris and Natasha have devised a plot to take over the world - and while they're at it, get rid of moose and squirrel.
Those villainous spies have fought tirelessly to rid the world of their longtime foes from Frostbite Falls, better known to millions of adoring fans around the world as Rocky and Bullwinkle, but the dim-witted duo have managed to escape the clutches of Boris and Natasha through sheer tenacity and cunning intuition - okay, so maybe they just got lucky. But back to the story ... Teaming up with a rookie F.B.I. agent, Karen Sympathy (Piper Perabo), our eponymous heroes will once again come face to face - or face to snout with their dreaded nemeses.
But first Rocky and Bullwinkle must blend into the real world - hardly an easy task for a 400-pound talking moose and a squirrel who thinks he can fly (no offense guys).
Now it is up to them to foil Fearless Leader's evil plot to unseat the President of the United States, President Signoff (James Rebhorn), through the creation of a new, omniscient, mindless TV network, RBTV (no, not Rocky & Bullwinkle Television, but Really Bad Television), which will hypnotize the entire population by election day (what can we say, this is Hollywood).
Yes, Rocky & Bullwinkle, our hapless heroes are back at it again, only this time the stakes are much higher. Has evil finally met its match? Well, at least it has met its moose.
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