"Shrek Forever After" - also billed as "Shrek: The Final Chapter" and simply "Shrek 4" - plays it straight and, in doing so, loses sight of its inspiration.

This is a 3-D green version of "It's a Wonderful Life" and, as much as we love these characters, the third sequel strives to be charming instead of funny.

It emerges as neither, a mediogre story with few laughs.

As the picture opens, Shrek is growing disenchanted with domesticity. Despite a loving wife and their three toddler ogres at home, he's become bored by the daily repetition.

Happily ever after is no longer fun. There's not even time to lie down in the mud, make snow angels and pass gas.

The villagers who used to run screaming at the sight of Shreck now request autographs on their pitchforks. His mighty roar has been reduced to an amusement at birthday parties.

"I'm just a jolly green joke," mumbles Shrek.

Oh, think that's bad?

Check out the clever dialogue shared by his best friends:

Donkey: You are a cat-tastrophe.

Puss: And you are re-donk-ulous."

That's childish, not funny.

The villain is Rumpelstiltskin, a village con man with no shortage of fine print contracts and a memory of coming so close to conning the king and queen of Far, Far Away out of their kingdom.

Having overheard Shrek longing for the old days, Rumple promises him just that: One whole day to relax and be a frightening ogre again, a day he can spend scaring villagers and lounging in the mud.

The catch. Shrek also has to give up a day. "You gotta give a day to get a day," he's told.

Shrek signs the contract, unaware that the day Rumple takes is the day Shrek was born. But he still has a chance - if he experiences love's true kiss. But how can he convince Fiona to kiss him by day's end?

No one, including Fiona, recognizes him now.

Donkey is no longer his friend, Fiona is a warrior ogre leading a revolution and, as for Puss-In-Boots, he can make more than just his eyes bigger.

But that sight gag was made obvious in the film's trailer.

Think back, however, to 2001, when the original "Shrek" won the very first winner Oscar for Best Animated Film. That movie holds up because of its wit, with loads of pop culture references and icons being subtly skewered.

Shrek was an ogre whose mere lifestyle earned laughs. And Eddie Murphy was allowed to become Donkey, arguably history's funniest animated character.

True, "Shrek 4" is an improvement on its predecessor, and the vocal work by Murphy, Mike Myers (Shrek), Cameron Diaz (Fiona) and Antonio Banderas (Puss) is outstanding.

But this is supposed to be the farewell film, the last time we will see Shrek on the big screen, and one would think producers would want it to be the funniest Shrek of all.

Not so. Oh, they toss in a few copycat jokes, like a lie from Pinocchio. Rumplestiltskin sending witches on patrol is reminiscent of the flying monkeys in "The Wizard of Oz."

But "Shrek Forever After" is a romance, not a comedy, an awkward look at Shrek channeling Jimmy Stewart and experiencing what life would be like if he'd never been born.

Even an ogre, we're told, does not realize what he has until it's gone.

Fans of the funnier, wittier, more satiric Shrek movies may share that same feeling. The 3-D effects provide some smiles but, for the most part, the good times are ogre. It's a shame.