Blake (Hulk Hogan), is a self-made millionaire from selling bodybuilding supplements, and is mean to his workers. One day, whilst on the way to a paintball game, he is driving recklessly in his car. Chased by the police, he drives to a shopping mall and hides out inside, changing into a Santa Claus costume. He slides down a garbage chute to escape the police and bangs his head, getting amnesia.
An evil scientist, is trying to take over an orphanage in order to gain access to the magical crystals underneath it. Frost dispatches his henchmen to destroy the orphanage, and only Blake can save the orphan children.