In an era where holiday films often come and go, Will Ferrell's 'Elf' stands out as a timeless classic. With over two decades since its release, this movie continues to hold a special place in the hearts of audiences young and old. Ferrell, now 57, reflects on its impact and shares his thoughts in an exclusive interview with PEOPLE.

The Holiday Film That Keeps on Giving

Buddy the Elf's Journey

Elf, released in 2003, follows Ferrell as Buddy the Elf, a human raised by Santa Claus' elves in the North Pole. His adventures as he sets out to find his biological father in the real world of New York City are nothing short of extraordinary. This unique story line has captured the imagination of viewers worldwide, making 'Elf' a must-watch during the holiday season and beyond. 1: Buddy's upbringing in the North Pole among the elves gives him a perspective that is both childlike and endearing. His innocence and naivety as he navigates the big city of New York are truly charming. Ferrell's portrayal of Buddy is nothing short of brilliant, bringing the character to life in a way that is both funny and heartwarming. 2: The scenes set in the North Pole are a visual delight, with its snowy landscapes and magical atmosphere. The elves' workshop is a wonderland of toys and creativity, adding to the overall charm of the movie. And when Buddy finally makes his way to New York, the contrast between his world and the real world is both comical and touching.

The Impact of 'Elf'

Not only has 'Elf' become a holiday classic, but it has also had a lasting impact on audiences. Ferrell notes that the movie continues to grow by leaps and bounds and has entrenched itself in people's hearts. People come to him year-round, sharing how they watch 'Elf' on July 4th or any other day just because they love it. 1: This shows the universal appeal of 'Elf'. It's not just a movie for the holidays; it's a movie that can be enjoyed at any time. The themes of family, friendship, and the magic of Christmas resonate with people on a deep level, making 'Elf' a truly special film. 2: The success of 'Elf' is also evident in its box office numbers. Against a $33 million budget, the movie earned over $220 million worldwide. This is a testament to its popularity and the lasting impact it has had on audiences.

Rejecting the Sequel

Back in 2021, Ferrell appeared on the cover of The Hollywood Reporter and spoke about the success of 'Elf' and why a sequel never panned out. He turned down the sequel and a $29 million paycheck because he felt it had a similar premise to the original movie. Ferrell was honest about his decision, saying that he couldn't promote a movie that he didn't believe in. 1: His integrity is truly admirable. Ferrell knew that if he were to promote a sequel, he would have to lie to his fans, and he wasn't willing to do that. Instead, he chose to let 'Elf' stand on its own as a classic. 2: This decision also shows Ferrell's respect for his fans. He didn't want to disappoint them by making a sequel that wasn't up to par with the original. Instead, he let them remember 'Elf' as it was meant to be remembered – a timeless holiday classic.