This film is rude, disgusting, vile, inappropriate, taboo.......
And that is why I loved it so much!
Essentially the film is about a teddy bear, Teddy, that can talk after a child made a Christmas wish. A child's Christmas wish is the powerful thing, but as the narrator correctly points out it isn't:
Now if there's one thing you can be sure of, it's that nothing is more powerful than a young boy's wish. Except an Apache helicopter. An Apache helicopter has machine guns AND missiles. It is an unbelievably impressive complement of weaponry, an absolute death machine.
The bear grows up, with its owner, into an offensive bear (now called Ted).
The two of them take drugs together, drink far too much and take the piss out of each other pretty much all day. But, they love each other which is one of the less comedic themes that runs throughout the film. The film is obviously a comedy, but in many ways could be construed as a weird romance involving 3 characters.
Ted loves John. John loves Ted back. But, John loves Lori. Lori doesn't love Ted (as much as John does anyway). She wants Ted out so John can finally grow up. He doesn't want Ted to go. Ted doesn't want to go. I mean it is a story as old as time itself.