Eric Cartman shows the boys an episode of the Crocodile Hunter which inspires them to go up a mountain and search for crocodiles. When Kyle falls down a hole, Stan gets a rope and lowers himself down to rescue him. He soon notices a figure frozen in the ice that appears to be a human. The boys go back to town and show the creature to everyone. Dr. Mephesto takes it to his laboratory so he can unfreeze it. The creature gets named "Steve" which was Kyle's choice for a name which angers Stan who wants to call him "Gorak."
In his lab, the boys arrive to find that Mephesto has unfrozen the man. It turns out he has been frozen since 1996 and he is then placed in a habitat of that year (complete with songs by Ace of Base). Federal agents arrive who want to use him as a weapon but cover their plan up. People can pay to see Steve who is actually named Larry. Despite being only two years behind, people treat him like a neanderthal causing him to be very lonely and unhappy so Stan thinks of a plan.
In the night, Stan breaks in so he can rescue Larry, but finds Kyle there, doing the same thing. Kyle lets Larry out by opening the door and then he and Kyle decide to fight the next day at 4:00. Larry visits his wife, who doesn't remember him and has remarried. She also has kids with her new partner who are unusually older than only two years apart would allow. Larry then tries to freeze himself again, but Mephesto arrives along with the federal agents. Kyle tells Stan and Larry about Iowa, a place that is somewhat 1996-themed since they are behind on clothes, music and technology. He and Stan try to take Larry there.
They get him to the train station but are pursued. Larry gets on a train and tries to tell Stan and Kyle goodbye, but they were too busy fighting to notice. Suddenly, his plans are nearly thwarted. Soon Mephesto, federal agents and even Steve Irwin are chasing after him, and the boys stop fighting to advance on the ensuing chase. The pursuers then land a helicopter on the train tracks to block the train but it results in a crash, killing Irwin and giving Larry a chance to escape. He escapes in the helicopter and explains how important friendship is to Stan and Kyle who make up after listening to his advice and both agree that Cartman sucks as a best friend.