Will Ferrell On The Impact Of ‘Elf’ 21 Years After Film Debut

It has been two decades since Elf hit theaters, and 57-year-old Will Ferrell is reminiscing about playing the title character Buddy the Elf, who has remained a timeless fan favorite. Elf is a holiday classic, with the story of a naive, jolly elf spreading Christmas cheer and the importance of childlike wonder.

Ferrell admitted during an exclusive interview with PEOPLE that he feels lucky to have Elf in his catalog. He added fans not only rewatch during the festive holidays but also on July 4th. Ferrell’s character is a major contributor to the movie’s rewatch value as he gave something to laugh about in every scene.

Will Ferrell’s ‘Elf’ was a success and he’s lucky to have been able to play the role

Elf grossed over $220 million as against its $33 million budget, showing the movie’s success and global acceptance. Ferrell was even meant to reprise his role for a sequel; however, he turned down the offer of $29 million due to its similarity with the original.

Ferrell also thought a sequel seemed like an unnecessary cash grab that would likely not meet the standards of the original. He also did not get along much with director Jon Favreau, who was in favor of the remake.  Ferrell even joked that he would not be getting in tights again for such an unappealing salary.

A look back at ‘Elf’

Ferrell starred alongside Zooey Deschanel, Daniel Tay, and Peter Dinklage in Elf, and his late costar James Caan, who played his biological father, Walter Hobbs. The story follows Buddy the Elf, who goes searching for Walter in New York City after being raised by Santa Claus’s elves in the North Pole.

Walter, a stoic workaholic, struggles to connect with his son Buddy, who has a playful, childish approach to life. They eventually reunite, proving the magic of Christmas in bringing loved ones together. Ferrell received nominations for the MTV Movie Awards and Nickelodeon’s Kid Choice awards for  Elf.