Walter Black is suffering from depression. Walter soon hits bottom, gets drunk and, upon waking up, is introduced to "the Beaver" - a puppet Walter had found in the trash and put on his hand during his drinking binge - who suddenly speaks to him, in a British accent. With the help of the Beaver (a facet of Walter's personality), Walter gets a new lease on life and returns home with dramatic results.

Plagued by his own demons, Walter Black was once a successful toy executive and family man who now suffers from depression. No matter what he tries, Walter can't seem to get himself back on track until a beaver hand puppet enters his life.