In Fairy Tale Land, the Wizard (voice of GEORGE CARLIN) controls the scales of good and evil. As long as they remain balanced, all of the fairy tales will proceed and finish as they always have. Yet, when the Wizard decides to go on vacation, his subordinates, Munk (voice of WALLACE SHAWN) and Mambo (voice of ANDY DICK), manage to goof up the balance.
That eventually allows the control of the Wizard's magic to fall into the hands of Frieda (voice of SIGOURNEY WEAVER). She's the evil stepmother to Ella (voice of SARAH MICHELLE GELLAR), a.k.a. Cinderella, a handmaid who lives in the shadows of her mean stepsisters and pines for Prince Humperdink (voice of PATRICK WARBURTON), the dimwitted hero of the land.
Unbeknownst to her, the Prince's servant, Rick (voice of FREDDIE PRINZE JR.), longs for her. When Frieda gains control of the magic and thus changes the course of all fairy tales, he sees it as his opportunity to save the day and thus impress Ella. But he and others must then contend with Frieda and her minions, including Rumplestiltskin (voice of MICHAEL McSHANE), the Big Bad Wolf, and other beasts and monsters, who are reveling in the changes and don't want things to return to the way they once were.