This Is Why An 'Elf' Sequel Never Happened, According to James Caan

Elf has made its way into classic Christmas territory since it was released in 2003.
Starring Will Ferrell, James Caan, Zooey Deschanel, Mary Steenbergen, Ed Asner and Bob Newhart, the film centered on Buddy, who was raised by elves and is shocked to find out he’s actually a human who stowed away in Santa’s sack.
He goes in search of his real father in New York City, in hopes to start a relationship with him and make him believe in the magic of Christmas again.
While Will and Jon ha