It is loosely based on Carlo Collodi's 1883 Italian novel The Adventures of Pinocchio, with the title character's design strongly influenced by illustrator Gris Grimly's work. Set in Fascist Italy during the interwar period, the story follows Pinocchio, a wooden puppet who comes to life as the son of his carver, Geppetto. The film stars the voice of Gregory Mann as Pinocchio and David Bradley as Geppetto, alongside Ewan McGregor, Burn Gorman, Ron Perlman, John Turturro, Finn Wolfhard, Cate Blanchett, Tim Blake Nelson, Christoph Waltz, and Tilda Swinton. Pinocchio was the final film credited to Gustafson before his death in 2024.