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On the mystical realm of Easter Island, E.B., a spirited young rabbit, was poised to inherit the esteemed mantle of the Easter Bunny from his father, Mr. Bunny. However, instead of embracing the weighty responsibilities, E.B. allowed fear and trepidation to overwhelm him, leading him to abandon his ancestral duties and flee to the sun-kissed streets of Hollywood to chase his dream of becoming a skilled drummer. Unbeknownst to E.B., his father dispatched three elite ninja guards, the Pink Berets, to track down his wayward son.

Meanwhile, amidst the bustling metropolis, Fred O'Hare, a hapless adult struggling to find direction in life, was wrestling with the pressures of his family's expectations. His parents, determined to propel him back into the workforce, staged an intervention aimed at rousing their adult child from his prolonged slumber. Little did they know that fate had other plans.

E.B.'s path crossed Fred's when the latter, driving to his sister Sam's house-sitting gig, struck the former with his vehicle in the midst of a chaotic intersection at Van Nuys. As E.B. feigned injury to gain Fred's sympathy, he convinced the distracted slacker to take him in as he recovered from his supposed ordeal. However, E.B.'s antics soon tested Fred's patience, prompting the latter to attempt to abandon his new roommate in the wilderness.

E.B.'s cunning guile and a dash of good fortune led him to persuade Fred that he was none other than the Easter Bunny himself, whose legendary exploits had captivated Fred during his childhood. Enthralled by the prospect of being part of something greater than himself, Fred agreed to aid E.B., unaware that his new friend's true identity lay hidden beneath a layer of fluffy fur.

As E.B. and Fred navigated the bustling streets of Hollywood, they stumbled upon an office where the Blind Boys of Alabama were preparing for a recording session. Seizing the opportunity, E.B. slipped into the role of substitute drummer, leaving the blind musicians none the wiser to his true nature. The impromptu performance proved a resounding success, but it came at the cost of Fred's job interview.

In the aftermath of this chaotic turn of events, E.B. received word about an upcoming audition for David Hasselhoff's popular talent show, "Hoff Knows Talent." With Fred's reluctant assistance, they set out to impress the infamous Hoff and secure a spot on his program. To their surprise, E.B.'s unorthodox drumming skills earned him a coveted invitation to perform on the show, setting the stage for a series of unpredictable events that would forever alter the trajectory of these two unsuspecting characters.

As the Pink Berets converge on the audition with Hoff & again, EB (Easter Bunny's son) makes a break for it, fleeing Fred once more. This time, however, EB reveals his true identity as the Easter Bunny's offspring, who was destined to inherit the family business but instead opted out in favor of pursuing music.

Later, Fred accompanies his adopted younger sister Alex to her school's Easter-themed pageant, with E.B. hiding discreetly within a satchel. As the performance unfolds, E.B.'s unease grows when he spots the eerie silhouettes of three bunnies on a wall, hinting at the Pink Berets' presence. His discomfort is further exacerbated by Alex's cringe-worthy rendition of "Peter Cottontail", prompting him to make a hasty exit and disrupt the show. Fred, ever the quick thinker, improvises a ventriloquist act with E.B.'s unwitting cooperation as his dummy, leading the audience in an impromptu sing-along of "I Want Candy".

The aftermath sees Fred's father, Henry, and Alex reeling from the sudden upstaging, while Fred himself is galvanized to pursue a new passion: becoming the Easter Bunny. E.B., though initially skeptical, agrees to train his human protégé and discovers that Fred possesses some genuine talent for the role.

As the Pink Berets close in on their quarry, E.B. concocts a decoy plan to fake his own demise and makes a discreet exit to prepare for Hasselhoff's show. The Berets, however, fall prey to the ruse, believing that Fred has finally done away with EB. They apprehend Fred and whisk him away to Easter Island, where he's held captive and confronted by Mr. Bunny and Carlos about E.B.'s supposed demise.

As the truth begins to unravel, Carlos feigns distress over E.B.'s passing and silences Fred (who attempts to reveal the decoy's true nature). Seizing the opportunity, Carlos seizes control of the Easter factory, leaving Fred trapped in a desperate bid for freedom.

As E.B. (Hilary Swank) readies for his performance at the Hoff Knows Talent live show, his reflection serves as a scathing critique, lambasting him for abandoning Fred and indulging in selfish pursuits. The harsh words cut deep, and just as E.B. is grappling with his conscience, a production assistant bursts into his dressing room to announce that it's time for him to take the stage. Feeling guilty about leaving Fred behind, E.B. seeks out David Hasselhoff for guidance, who wisely advises him to return and make amends.

Seizing the opportunity to rectify his mistakes, E.B. discovers evidence of Fred's capture at the factory and hastens back to the scene, determined to rescue his friend. Confronting Carlos, he finds himself rendered immobile by gummy candy and subsequently swept up in the chocolate bunny carving line. Meanwhile, Fred and Mr. Bunny are helplessly bound with black licorice, facing a terrifying fate - being boiled alive. However, through sheer determination, they manage to free themselves by devouring the licorice, while E.B. narrowly avoids being sliced by dodging the blades.

The tables turn when Carlos, now transformed into a chick-bunny hybrid due to the mystical powers of The Egg of Destiny, clashes with E.B. in an epic battle. Despite his valiant efforts, E.B.'s smaller stature leaves him at a significant disadvantage, and he's ultimately defeated by Carlos. As the Easter Bunny's nemesis gains control of the Egg Sleigh, Phil takes the reins, directing the journey with his light-up wands.

In a last-ditch effort to thwart the launch, E.B. improvises an impromptu drum session. Uncontrollably drawn into the rhythm, Phil becomes mesmerized and inadvertently sends the wrong signals, causing a catastrophic crash that renders Carlos powerless. With the Easter Bunny's arch-nemesis subdued, E.B.'s apology to his father marks a turning point, as he and Fred are jointly appointed co-Easter bunnies, taking on new responsibilities.

As the credits roll, E.B. and Fred find themselves in China, delivering an Easter basket to the very same woman who had previously attacked Mr. Bunny - a poignant reminder of the power of redemption and the cyclical nature of forgiveness.