Target audience (juveniles) seem to love it, but frankly a pretty poor movie.

Rating: Null/10 (29 December 2012)

In many ways this movie is a reunion of the creator of and actors in the TV series, "Family Guy." Which isn't bad, because there is a lot of talent there.
As a boy John Bennett had trouble finding friends, for no particular reason, because he seemed to be the normal boy of 8 living in a Boston suburb. But for Christmas he made a wish, that his Teddy bear would come alive, and the next morning his wish had come true. Mark Wahlberg is the adult John Bennett, 27 years later at age 35. He is stuck in a low paying job at a car rental business, but has been in a 4-year relationship.
And his bear, Ted, has grown up too, not physically, but his voice changed and he developed this really dirty mind and dirty vocabulary. For no particular reason, it seems. And unlike some similar stories, Ted's secret is widely publicized from the start, and there is an inventive scene where he is a guest on the Johnny Carson show, when Carson says "I thought you would be taller", Ted replies "And I thought you'd be funnier."
The pretty girl in John's life is Mila Kunis as Lori Collins. She realizes he doesn't have a great career path, but she loves him and knows he has a good heart. But most of the story involves John giving in to Ted's suggestions, screwing up over and over. Ted, who saved John as a boy, now is messing up John's relationship. Seth MacFarlane, creator and director, voices Ted, and post-production did a great job to make Ted look very real, although a static teddy bear was used in filming.
This story has some real potential but to me, and also to my wife, it wasn't handled very well. There are some funny scenes, but there is also a strong reliance on potty humor and sexual references that only serve to make the move "dirty-sounding." I know, to many that also makes it funny, but to us it did not. Pretty marginal movie overall, we would not recommend it to any of our friends.