And Ferrell is quite adamant that it will never, ever happen.
On Bravo's Watch What Happens Live Tuesday night, Ferrell was asked if there would ever be an Elf 2. He responded with a firm, "Absolutely not."
When pressed, Ferrell said, "It would look slightly pathetic if I tried to squeeze back into the Elf tights."
We'll allow that filming in Anchorman's arsenal of polyester suits seems preferable to yellow tights and forgive Ferrell for not wanting another round in Buddy the Elf's trademark outfit, even if we're sad we'll never get to see him tell off a fake Santa again.