Treehouse Hostage is a 1999 family film directed by Sean McNamara and starring Jim Varney and Joey Zimmerman. It is one of Varney's final films before his death in 2000.
Carl Banks (Jim Varney) is a dangerous counterfeiter and escapes from jail. Meanwhile Timmy Taylor (Joey Zimmerman) has a current project due on Monday and if he shows up empty handed he's going to summer school, simply because of his participation in class, and that his teacher and Principal Ott (Richard Kline) hate him.
Carl Banks tries to print some more money and finds one of the counterfeit plates but can't print any money when his crooked ex-boss and his cops, who are counterfeiters as well, catch him at his base. He runs into Timmy Taylor's backyard and ends up in his treehouse. Timmy and his two best friends keep him hostage in Timmy's treehouse so that Timmy can take him to school on Monday to ace Current Events.
However, keeping a major criminal hostage is more of a handful than they expected, due to the huge wedgies that Carl delivers. Until Timmy figures out that Carl is in the middle of a major counterfeit ring, Timmy & his friends help get revenge on the men who treated Carl badly (surprisingly, Timmy's principal is Carl's ex-boss who turned him into the authorities), in exchange for counterfeit money, of course.