In 1993, the script was written as a vehicle for Arnold Schwarzenegger. About a drill instructor, whose father dies and he must carry on his legacy as the tooth fairy. However, Schwarzenegger chose the script for Last Action Hero (1993) instead, and the project went into limbo for years.
As of 2023, this remains Julie Andrews's last on-screen acting performance in a live action film. Andrews however, continues to act but only in the form of voice-overs.
The painting on display in Derek Thompson's apartment is Lacing Up (1973) by Canadian artist Ken Danby.
When Derek Thompson and Tracy are starting the fairy fight, Thompson says, "You want a shot at the title?" This is a reference to Dwayne Johnson's former pro wrestling career in which he was a seven-time WWE champion known as The Rock.