Rainbow Randolph, a disgraced former children’s television host, is furious after losing his job due to a bribery scandal. In his place, the network brings in Sheldon Mopes, an earnest and straight-laced performer who dresses as a pink rhinoceros named Smoochy. Sheldon's genuine love for children and wholesome persona quickly endear him to the audience, making his show a hit. However, Randolph, consumed by jealousy and anger, vows to sabotage Smoochy's career and reclaim his position. As Sheldon navigates his newfound fame, he faces pressure and manipulation from various figures in the entertainment industry who see him as a means to achieve their own sinister goals.

The network's ruthless executive, Nora Wells, becomes entangled in Sheldon's world, both professionally and personally. As Sheldon tries to maintain his integrity amidst mounting chaos, he gets caught in a dangerous web of corruption and deceit involving the underbelly of the children's entertainment industry. Meanwhile, Randolph's increasingly desperate attempts to destroy Smoochy lead to a series of darkly comedic events. Each character's actions spiral deeper into a mix of moral compromise and unexpected alliances. The tension rises as everyone reveals how far they are willing to go for power, fame, and revenge, setting the stage for an explosive confrontation.