Andy Davis (John Morris) is now 17 years old, and is heading off to college in a few days. However, the fact that Andy has grown from a young boy to a teenager has not been lost on a select few: his toys.

Several of them hold out hope that Andy will play with them at least once before he leaves, but those hopes are soon dashed. As the toys take stock of how many are left, and those that they have lost over the years, their attention is drawn to the last of the Army Men: Sarge (R. Lee Ermey), and two paratroopers. Fearful of being thrown away, they leap out the window into the world beyond, their parachutes taking them who knows where.