A hunter known as Big Jake (Meat Loaf) is hired to catch the fabled Yeti, which is loose in the streets of the Big Apple. But after encountering the mythic beast, Jake discovers that the Yeti is a furry, cuddly creature. So, when he is forced to hand the Yeti over to the spoiled scion of a millionaire New Yorker, Jake teams up with a little girl to prevent the Yeti from falling into wicked hands.