It is the third installment in the Friday trilogy as tells the story of Craig and his cousin Day-Day getting jobs as security guards at a shopping center when a robber dressed as Santa Claus breaks into their apartment and steals their presents and the rent money that is to be given to their landlady.

On the early morning of Christmas Eve, a robber disguised as Santa Claus breaks into Craig and Day-Day's apartment.

After the police leave, Craig and Day-Day are confronted by their landlady Ms. Pearly, who warns them that if they do not pay their overdue rent by the end of the day, she will evict them and send her son Damon, a newly released ex-convict who developed homosexual tendencies in prison, after them.

After failing to catch them, the thugs beat up Moly for supposedly hiding them, resulting in Craig and Day-Day getting fired, despite being on their break at the time.

Craig and Day-Day see the robber, ambush him inside his hideout and chase him around the neighborhood, running into obstacles until he is eventually hit by Pinky's limousine.

Craig and Day-Day retrieve their stolen rent money and Christmas presents, and tie the robber up on his roof, leaving him for the police.

"[4] On Metacritic, the film has a weighted average score of 35 out of 100, based on 24 critics, indicating "generally unfavorable reviews".

[6] Roger Ebert of the Chicago Sun-Times gave it 2 out of 4 and wrote: "I guess there's an audience for it, and Ice Cube has paid dues in better and more positive movies ("Barbershop" among them).

"[9] Kevin Thomas of the Los Angeles Times gave it a positive review: "Fast and raunchy, Friday After Next surely stands apart from other holiday-themed movies for its gleeful low-down humor and a raft of uninhibited characters involved in one outrageous predicament after another.