MVP 2 opens with the lovable Jack being ousted from his hockey team, the Seattle Simians, and having to hit the road after being falsely accused of league misconduct. Jack ends up in the city, where he's befriended by Ben, a homeless skateboarder, and Ollie, a skate shop owner. Jack proves to be as adept at mastering the half-pipe as he does at delivering a slap shot, and before long, he and Ben are crashing amateur skateboarder competitions all over the country.

After leaving the prison, the dwarf criminal Calvin Sims joins to his moron brother Percy to steal an expensive huge diamond in a jewelry for the mobster Walken. They are chased by the police, and Calvin hides the stone in the purse of the executive Vanessa Edwards, whose husband Darryl Edwards wants to have a baby. Percy convinces Calvin to dress like a baby and be left in front of the Edwards's house to get inside the house and retrieve the diamond. Darryl and Vanessa keep Calvin for the weekend and decide to adopt him, while Walken threatens Darryl to get the stone back.