"Rainbow Randolph" Smiley (ROBIN WILLIAMS) once had it all - fame, fortune and a highly successful and lucrative children's TV show that he hosted. Yet, when he's busted for accepting bribes to put children on the program, both he and the show are quickly canned. It's then up to Kidnet network president Frank Stokes (JON STEWART) and vice-president of development Nora Wells (CATHERINE KEENER) to find a squeaky clean replacement as soon as possible. They do so in Sheldon Mopes (EDWARD NORTON), a bottom-rung performer who plays hospitals and drug rehab clinics as Smoochy, a colorfully costumed rhino who entertains the patients with his folksy songs.
The new show is soon a big hit, with regulars such as Angelo (DANNY WOODBURN) moving over from Randolph's cancelled program. As idealistic as they come, Sheldon believes he can do good with his show, but it's not long before he gets an unsavory, behind the scenes look at this world.
Nora and Frank want to market the character and show as widely as possible, which thus allows Burke Bennett (DANNY DEVITO) to sweep in and persuade Sheldon to allow him to represent him in such matters. Little does he know that the agent is in cahoots with Merv Green (HARVEY FIERSTEIN) of the Parade of Hope charity and that both plan to skim some money off the top of all things Smoochy related.
Then there's Mafioso Tommy Kotter (PAM FERRIS) who "persuades" Sheldon to put her dimwitted cousin and ex-boxer, Spinner Dunn (MICHAEL RISPOLI), on the show. Sheldon's biggest problem, of which he's initially unaware, however, is that Randolph, who's now destitute, has decided to do anything and everything in his power to ruin Sheldon and Smoochy and thus hopefully get his old show back. All of that, and a former host turned heroin addict and assassin, Buggy (VINCENT SCHIAVELLI), make for an interesting and dangerous time in Sheldon's turn on the show.