Woody, Buzz Lightyear, and the rest of the gang are facing a new chapter in their lives as their owner, Bonnie, starts kindergarten. During her orientation, Bonnie creates a new toy from trash named Forky, who becomes her favorite. Forky, however, is deeply troubled by his own existence, considering himself to be trash rather than a toy, and longs to return to the garbage. Woody takes it upon himself to show Forky why life as a toy is worth living. The stakes rise when, during a family road trip, Forky escapes, leading Woody to chase after him, determined to bring him back to Bonnie for the sake of her happiness.

Woody’s rescue mission leads to an unexpected reunion with his old friend Bo Peep, who has embraced her independence after years of being on her own. As Woody and Forky travel back to Bonnie, they run into all sorts of trouble, meeting a colorful cast of new toys including the daredevil motorcycle-enthusiast Duke Caboom, the adorable plush duo Ducky and Bunny, and a vintage doll named Gabby Gabby with her own agenda. Their adventure across unfamiliar territory challenges their perceptions of what they want and what it means to be a toy.