Toby Morgan is a young boy, but feels the loneliness of his strict grandmother and increasingly distant father. His discovery of the "magic attic" offers a safe haven where he finds a stuffed rabbit his mom left him before she passed away. His tears transform the rabbit into a playful animated Rabbit and his amazing animated adventures begin.
Rabbit's one wish is become a real rabbit someday, and Toby's wish is to have a happy, supportive family again. Through lessons learned with the help of a Swan and Horse, and the transforming power of love, both wishes come true.