Just a comedy film, well acted, well written, good supporting characters, not the best or anything special at all, but fortunately devoid of some Hollywood horrors that this new generation of family- friendly writers cram into everything they can get their hands on;
So, Larry, the "cable guy", is a southern hick, a good guy but not the brightest bulb in the box, and one day he gets transformed into a tooth fairy; simple, non ?
This is a not-serious film (duh), and it's got all the "safe" script choices for a comedy, avoiding the overly-PC but also all the sex jokes, but the result isn't middle-of-the-road in any way, it's funny and enjoyable if you accept the premise and the fact that you decided to watch a silly movie. Acting is also decent (i have seen MUCH worse - the supporting characters in Father of Invention come to mind), decent direction, writing and storyboard (tho the bassoon-heavy soundtrack is really annoying).
Now, i love silly movies, (i love serious ones too) and a little escapism sometimes is needed. And Tooth Fairy 2 has in spades of escapism, so if it's a easy comedy you are looking for, this film is for you.
Yeah you can rent this film safely, it won't be horrible, my word. (mind you, i liked a lot of silly films, like NATM, Awesomest Maximus, Meet the Spartans .. etc )
My final vote - 6/10 and not bad.