Because it hails from the Sesame Street region of the Muppet empire, this gaily busy kid flick unspools with a serious lesson in mind: Share your stuff! But for a morality tale aimed at 4-year-olds, it's also charming enough not to bore the relaxed-fit jeans off accompanying adults, especially when Elmo, in pursuit of his beloved blanket, dives into Oscar's fetid garbage can and winds up in a fabulously nasty neighborhood where cranky moviegoers pay bad money to see Sharon Groan star in Basically, It Stinks. B+

